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People Capital, Inc. News

People Capital, a New Peer-to-Peer Student Lending Solution, Addresses Institutional, as Well as Student, Challenges

NEW YORK, July 1 PRNewswire — People Capital, a new media, consumer finance company, announced today that it had secured additional funding to develop its next-generation peer-to-peer (p2p) lending platform to provide improved access to student funding, as well enhanced tools and metrics to assess true creditworthiness.

"Capital market events have led to overly harsh treatment of student borrowing," said People Capital founder and CEO Thomas Shelton. "Not only have lenders fled the market, but also, those that have stayed, are unable to best distinguish between good and bad risks. We aim to address both issues.

"Our alternative platform will generate liquidity in the market by matching all lenders with all borrowers — not just 'family and friends,' but institutional lenders, too. Institutional lenders still remain, by far, the largest source of capital in these markets.

"But more than just providing a platform," he continued, "Our solution will offer additional credit risk tools and metrics that provide insight into the future potential of borrowers — our patented human capital score. Based on research developed in The Wharton School Insurance Department, it addresses the challenge of how to assess the creditworthiness of those just starting their credit histories. Traditional methods ignore one's potential. We aim to factor in such measures as SAT scores, GPAs, majors, etc. Our credit assessments will allow lenders to make credit risk decisions based on the true potential of the borrower."

People Capital has formed a world-class team of professionals including veterans of the student lending, consumer finance, credit ratings and new media industries. Founded by CEO Thomas Shelton, a student loans industry veteran, People Capital recently announced the addition of two senior members of its management team, Chief Information Officer John Nerenberg and Chief Product Officer Alan Samuels. John was, most recently, CIO at Curomax, a successful Web 2.0 consumer finance start-up. As the senior technology officer and member of the corporate leadership team, he was responsible for all IT activities including development, data center operations, QA and IT security for this Internet-based loan origination portal with interfaces to 25 banks. Prior to that he was the CIO of CIT Commercial Finance. Alan has over 17 years of financial services experience leading product development, marketing and business development functions. His last 10 years have been spent in the credit ratings industry as a senior executive at both Standard & Poor's and Fitch Ratings.

The platform is scheduled to launch by the end of 2008. A more detailed business plan is available to qualified investors and institutional partners.

About People Capital

People Capital, Inc. was founded in 2008 by a team of world-class talent with backgrounds in student loans, consumer finance, credit ratings and new media to develop the next generation of credit risk management and funding for student financing. Our peer-to-peer (p2p) lending platform brings innovative financing solutions for students to finance their college educations by marrying together traditional FICO scores, guarantors and co-signers with cutting-edge information-based strategies from the credit card industry. Our patent-pending human capital score can underwrite students without credit history by being able to project individual income levels and ability to pay indebtedness. We incorporate merit data such as GPAs, SAT scores, internships, college and major to providing a true and unbiased, data-driven measure of economic value of an education.

Website: http://www.people2capital.com Press contact: Thomas Shelton Founder & CEO People Capital thomas.shelton@people2capital.com (917) 470-9698

This release was issued through eReleases(TM). For more information, visit http://www.ereleases.com.

SOURCE People Capital, Inc.

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