SoMoLend Wins Startup 2012 Business Pitch Competition

SoMoLend to receive $75,000 in cash and in-kind prizes

NEW YORK—SoMoLend ( beat out eight finalists and hundreds of applicants to be chosen as the winner of the Startup 2012 business plan competition held in New York City earlier this month. As the winner, SoMo will receive $75,000 in cash and in-kind prizes. Startup 2012 is New York City's premier business plan competition and entrepreneurship conference. It covers all the crucial topics in entrepreneurship, and one winner goes home with $75,000. To view SoMo’s winning pitch or learn more about the competition, visit

“We are absolutely thrilled and extremely honored. All the finalists were outstanding,” said Candace Klein, Founder and CEO of SoMoLend. “This win means a lot for SoMo. We will be able to put these resources towards the ongoing development of our technology platform.”

To learn more about what took place at Startup 2012, visit

SoMo is an alternative borrowing platform that offers new solutions for small businesses to obtain the money they need to launch and sustain their operations. SoMo’s software is designed to use the Web to match borrowers with lenders, connecting business borrowers with investors looking to make a return on investment.

The SoMo website is currently live in its Beta phase. Small business borrowers nationwide are encouraged to sign up today. To learn more, visit, or

About SoMoLend
SoMoLend is a Web-based lending platform that uses patent-pending technology to connect small business borrowers with individual and organizational investors (lenders), executed within a hyper-localized geographic scope. SoMoLend’s user-friendly technology allows small business borrowers to obtain loans from friends, family, customers, community supporters and interested organizations as well as from Facebook, Twitter and LinkedIn connections. For more information, visit or