Web Site Feature of the Month

@Property.com

Aug., 2000

www.oinke.com is billed as "The Auction Market For Debt Financing," and the concept is quite unique and interesting. Visitors to the site can literally set off an auction for their loan by entering their loan parameters into the windows found behind links from the Web site's homepage. If, for instance, you are interested in a commercial loan of $17 million for a golf course in Illinois, Oinke.com will generate a list of potential lenders for you. Then, by entering more detailed information, visitors can set off an actual lender auction for their loan.

Available loan types include commercial real estate, business loans and loans for equipment leasing. After initial registration, visitors can return to the site and click their way into the "OinkeVault" where their registration information is stored for use at a later time. Once inside the vault, options include auctioning a new loan, referring a new lender to the site and more.

If a loan is successfully auctioned and undertake, the lender pays Oinke a fee of .25% of the value of the loan. To receive a full description of the auction process, click on the "Learn More" link on the tool bar at the top of the page. There is also copious information on the "FAQ" page regarding exactly when a borrower is committed to accepting a loan, who views the loan parameters, how closing takes place and other important details.

Loans range in total value between $250,000 and $500 million.