San Francisco, CA (PRWEB) July 25, 2013 -- SoFi (Social Finance, Inc.), the private student lender, today announced that it’s currently accepting applications for its September 2013 Entrepreneur Program. The program provides eligible entrepreneurs with up to six months of student loan forbearance, access to accredited investors, and mentorship and resources to help entrepreneurs build their businesses.
“SoFi was founded by entrepreneurs who understand how individuals can be burdened by student loans when starting new ventures,” said SoFi Chief Executive Officer Mike Cagney. “Our rates are already helping graduates save money by refinancing with SoFi, but our Entrepreneur Program takes this a step further by giving entrepreneurs time to focus on their ventures without worrying about their monthly payments.”
In addition to providing up to six months of loan forbearance, the SoFi Entrepreneur Program provides mentorship and access to angel and venture capital investors, including the company’s own accredited investors.
“Through the SoFi Community, we are able to provide incubator-levels of mentorship and investor connections without the cost to the entrepreneurs. SoFi takes no equity from participating companies.” said Cagney. “We know our borrowers have goals beyond paying off their student debt, and we strive to support them in these endeavors.”
Applications for the SoFi Entrepreneur Program must be submitted online by August 11, 2013. Undergraduate and graduate degree-holders from one of SoFi’s 100 schools, including those from eligible engineering, business, medical, and law programs, are eligible to apply. Entrepreneurs can apply to participate in the Program while their loan application with SoFi is pending, but must be an actual SoFi borrower to participate in the Program.
SoFi is using the power of social to disrupt the $1 trillion student loan industry. SoFi connects students and recent graduates with alumni and other community investors through school-specific student loan funds. Investors earn an attractive return, borrowers receive a lower loan rate than their private and federal options, and both sides benefit from the SoFi community. Founded in 2011, SoFi has funded over $135 million in loans to students and alumni from 100 top universities. To learn more about SoFi visit: http://www.SoFi.com.
Arden Grady, SoFi (Social Finance, Inc.), http://www.SoFi.com, 415-697-2045, [email protected]