The ETHlend ICO presale started on the 25th and according to their website they've already managed to sell 80% of the tokens available in the first 2 days.
https://lend.ethlend.io/token_sale.html

What is ETHlend?

There's been a few different start ups offering loans in the crypto recently, one of the main issues with them is due to the anonymous nature of crypto currency its hard for the lender or borrower to trust each other.
ETHlend are planning to launch a decentralized peer to peer lending app that runs on the Ethereum network that's going to be using blockchain technology to enable secure lending.
They're planning to solve the trust issue with by allowing borrowers to get a crypto loan by using ERC-20 compatible tokens. If the lender isn't repaid by the borrower then the pledged tokens are transferred to the lender who can then sell the tokens on an exchange to recoup any losses.

Advantages of Decentralized Lending

Decentralization provides better security and trust. Decentralization doesn't require any third party such as banks to oversee the loan transaction.
Once the smart contract is deployed on to the Ethereum network it provides a perfectly transparent and trust-less lending environment that isn't currently possible with the FIAT lending market.
The loan is trust-less because nobody can change the contract once it has been deployed on the Ethereum network. Due to their being no third party being used there's no need to worry about the platform being hacked or your tokens being stolen which has been such a problem in the past.
Transparent also comes with the trustless environment because everyone will be able to see the loan on the blockchain ledger. Any transaction that's deployed on the Ethereum network can easily be viewed by using blockexplorers.
When you make a transaction with a bank you don't have any access to the ledger so obviously you can't view whether or not the person you're sending money to has received it yet.

Which Crypto Currencies Can You Borrow?

To begin with just Ethereum lending and borrowing will be available with ETHlend due to it running on the network but they say that in the future it will be possible to borrow other major currencies such as Bitcoin and Litecoin.

What are the fees?

ETHlend will deduct a 0.01 eth fee for every loan which the borrower pays, they say that this money will be used to further develop the network.

Who are the ETHlend team?

ETHlend have a team of 14 based in Finland. It was founded by Stanislav Kulechov who is a law student at the University of Helsinki:
https://www.linkedin.com/in/stanislav-kulechov-361284132/

Buybacks

Buybacks will increase the value of the token by limiting the supply. They're planning on using 5% of their revenue on buybacks, an additional 1-5% will be used depending on the fee volume growth of ETHlend. Meaning that upto 10% of revenue generated will be used on buybacks.

ETHlend ICO details

Pre Sale

• Starting on the 25th of September and running until the 25th of October or until all allocated tokens are sold.

• 60,000,000 tokens for sale.

• Token price: 30,000 LEND= 1 ETH.

• Pre sold tokens will be deducted from the 1 billion tokens available for the main sale.

Official ICO:

• 25th of November until 9th of December.

• Amount to raise: 36,000 ETH.

• Tokens for sale: 1,000,000,000 (pre sold tokens deducted first)

• Token price: 27,500 LEND=1 ETH for the first 200,000,000 tokens. Remaining tokens sold at 25,000 LEND=1 ETH.

ETHlend ICO Conclusion

The lending market is obviously huge. ETHlend will be the only decentralized lending platform on the Ethereum network so it may well make for a solid ICO

Link to website: https://lend.ethlend.io

Whitepaper: https://github.com/ETHLend/Documentation/blob/master/ETHLendWhitePaper.md