DELRAY BEACH, Fla., March 4 /PRNewswire-FirstCall/ -- WikiLoan, Inc. (OTC Bulletin Board: WKLI), a financial social network has begun to execute a strategy to serve the unbanked and underbanked consumer market, which exceeds 28 million in the US. The "Wiki" branded cards are expected to push into the marketplace by April 1 and may ultimately reach more than 20,000 distribution points throughout the United States. Up to 5 million "Wiki" cards shall be sold possibly resulting in tens of millions of consumers being exposed to the "Wiki" brand through various advertising collateral.
"What's so special about this deal is that the distribution points are primarily located within immigrant communities and run by local merchants. Often within these neighborhoods, storeowners directly educate consumers about various products and services. We intend to capitalize on these relationships by offering products that address the needs of the local consumer while giving them a great value. The company believes that the local footprint will bridge the cultural gap, build trust and strengthen the speed of adoption of "Wiki" branded products," said Edward DeFeudis, Founder and President of WikiLoan.
"WikiLoan is perfectly positioned to fill the needs in this community by giving consumers a resource for short-term loans with extremely low fees, fast identity verification methods, and the creation of payment histories, which may help build credit," said Marco Garibaldi, Founder and CEO of WikiLoan. "WikiLoan will continue our focus to build out technology to accommodate the needs of the market, and eventually attract them toward more traditional and profitable products in the future."
About WikiLoan
WikiLoan is a Social Network with a focus on finance. At WikiLoan.com, family and friends can borrow and lend money among themselves at rates suitable to their respective needs. The company's website provides repayment schedules and documentation for loans, along with proprietary administrative tools, which enable users to securely pull credit reports and automate the loan repayment process.
Investors may contact: WikiLoan, Inc., 561-865-5310.
This release contains various forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, which represent the company's expectations or beliefs concerning future events of the company's financial performance. These forward-looking statements are further qualified by important factors that could cause actual results to differ materially from those in the forward-looking statements. These factors include the effect of competitive pricing, the company's dependence on the ability of third party manufacturers to produce components on a basis which is cost-effective to the company, market acceptance of the company's products and the effects of government regulation. Results actually achieved may differ materially from expected results included in these statements.
SOURCE WikiLoan, Inc.
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