Monday, June 23, 2008

More Lenders Invest in Education

Here at Fynanz, we want to ensure that students receive help financing their education. The more lenders that bid on listings, the greater the competition, which will result in lower interest rates for borrowers. We don’t want to simply follow in the footsteps of others rolling out referral programs that offer cash back incentives; rather, Fynanz wants to attract lenders to our community who share in our goal of helping the students.

Fynanz would like to thank our lender, “plattsburghchick” for suggesting the idea the we implemented last week which involves a “Lending Bonus”. The concept of the Fynanz Higher Ed Stimulus Package was built around the idea of, “what would be attractive for lenders” and “help the students pay for their schooling?” Thus, giving cash back was out of the question as while it benefitted lenders it did not benefit borrowers. And here’s where “plattsburgchick’s” ingenious idea kills two birds with one stone. By providing lenders with a Lending Bonus which they can use to bid on loans, lenders eventually see the money, but not before helping some students out.

How it works:

- Refer a friend who becomes a lender – Both receive a $25 Lending Bonus

- Lend $3,000 or more Receive 3% Lending Bonus

- Lend $3,000 or more AND refer 5 new lenders – Receive 5% Lending Bonus AND $125 Lending Bonus

We’ve already witnessed an increase in lenders who have benefited from this new program. Fynanz wants to attract individuals and institutions who believe what we believe - education is the best investment! Our future is in the hands of today’s increasingly growing number of college and university students, so why not lend a hand?

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