Lending Bits bits looks like a great project, but in the USA wouldn't it violate SEC laws? US companies are not allowed to issue bonds unless they register with the SEC, not to mention they are not allowed to advertise/promote that they are raising financing unless they register with the SEC (this is the "general solicitation" rule).
I think the guys are going to be starting in the UK, and will be seeking advice on UK law first. They also plan to use Vennd.io to create a gateway that will only dispense value to KYC authorised Bitcoin addresses to help with AML requirements.