Loanio is now in a quiet period similar to the one that LendingClub emerged successfully from and that Prosper recently entered. I honestly don’t think that Loanio has enough momentum to make it through the process, but I am pretty certain that Prosper will make it - look for it in 2009.

Here is the notice from Loanio.

Loanio, Inc. has suspended its business activities so that we may begin the process of registering our promissory notes with the appropriate securities authorities. Please be advised that effective immediately, Loanio will no longer be accepting registration from lenders or borrowers or accepting new loan requests until further notice. We appreciate your understanding and patience during this “quiet period” and hope to reopen for business as soon as possible.

During this period we will not be responding to press, blogs, or other member inquiries specifically related to the suspension of business. However, if you have questions related to your account, loans, or any other related issues, you may contact us, as always, by logging into your account and creating a customer support ticket.

Borrower and Lender FAQ:

1.What if I am a lender and I have some loans already in my portfolio or I am a borrower and have a loan already?

Loans that have already been originated will continue to be serviced by Loanio during this period with no interruptions or changes in procedures.

2.What if I am a lender and I have money in my account?

You may transfer all available balances by logging into the My Money section of your dashboard and clicking on the icon to “transfer.”

3.What if I am a lender and I have pending funds being deposited to My Loanio account?

Once the money becomes available you may transfer it out.

4.What if I am a borrower and I had a loan request currently listed?

Your loan request has been cancelled and will not be funded at this time.

Again, we appreciate your understanding and patience during this “quiet period” and hope to reopen for business as soon as possible.

So, will all P2P platforms be closed down and forced to register with the SEC? That leaves the LendingClub as the sole survivor for the moment! If you are looking for a loan, check to see if you can apply via LendingClub:

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