Over at PSX-Scene jimmikaelkael has been at hard at work figuring out how the Memor32 and Datel’s Memory Plus are able to load programs directly from the memory card. I’ve been watching the thread with interest from the beginning and it seems that his hard work has paid off and a free solution, usable on almost any memory card, is now available!
Bootlegninja has prepared an installation guide to get you up and running. This is currently in beta/Work in Progress status so keep a look out for regular updates!