Company Extends Service to Enable Anyone to Find and Lend to Students Based on Common Interests ORLANDO, Fla., July 8
ORLANDO, Fla., July 8 /PRNewswire-USNewswire/ -- NASFAA CONFERENCE, --
GreenNote (http://www.greennote.com) today launched the GreenNote Network,
which enables anyone to help students by lending them money for college as
well as earning a good return on their investment.
Anyone -- individuals, institutions and affiliation groups -- can
participate in the GreenNote Network. Interested lenders use GreenNote's
online tools to search for students based on a wide variety of criteria such
as school of attendance, demographic information and/or area of study. They
can then provide a student with a loan that helps them lower their costs of
going to college and, in return, receive a fixed return of 6.8 percent per
annum on their loan.
"Our vision is to enable social lending for education that allows the
general public to be able to help students secure low-cost loans," said Akash
Agarwal, CEO and Founder of GreenNote. "The GreenNote Network is designed to
give people an opportunity to support and invest in the education of others."
Students with active loan requests through GreenNote choose whether they
wish to participate with the GreenNote Network of lenders. Unlike private bank
loans or other traditional loans, GreenNote does not require students to have
a credit report, co-signer or show proof of citizenship. The rate is fixed at
6.8 percent compared to private lending alternatives that typically carry a
variable rate up to 20 percent.
Lenders can provide as little as $100 to the students they wish to
support. GreenNote manages the entire process by formalizing the agreements
for all its lenders into legally binding loans and handles all the details
from loan documentation through repayment, making it simple and easy for
lenders to loan money to students.
GreenNote plans to work with all post-secondary schools in the country to
help financial aid officers, students and parents best utilize the GreenNote
alternative.
To find out more about becoming a GreenNote lender, visit
http://www.greennote.com/lenders.
About GreenNote, Inc.
GreenNote helps students obtain loans for education via social networking
rather than through traditional lending methods. Using the GreenNote online
platform, students connect with their social network -- friends, family,
friends of family, community leaders and others -- to borrow money. GreenNote
helps formalize everything into legally binding loans and handles all the
details. GreenNote is backed by Menlo Ventures and other prominent investors.
For more information, visit http://www.greennote.com.
All registered or unregistered trademarks are the sole property of their
respective owners.
Media Contact:
Andy Coffaro
FortyThree, Inc.
831.401.3175
GreenNote@fortythreepr.com
SOURCE GreenNote, Inc.
