Personal Loan – Credit Card Consolidation
DITCH THE PLASTIC. BECOME DEBT-FREE, FASTER
Have credit card balances? You’re not alone—there are over a million people in the U.S. with great credit scores and recurring credit card debt. But what if you could trade in your sky-high credit card rates for one monthly payment, in one place, at one low rate? Apply for a SoFi fixed rate personal loan and start saving as you take a responsible path to paying down your debt.
Why SoFi?
Better
Credit
On average, members increased their FICO(R) scores by 22 points after consolidating $10,000+ in credit card debt6a.
No Fees.
No Catch.
No origination fees or pre-payment penalties. What you see is what you get.
Community
Benefits
If you lose your job, we’ll temporarily pause your payments and help you find a new job4.
Easy
Experience
Simple online application and access to live customer support 7 days a week.
Personal Loan Comparison6
Here’s how SoFi Personal Loans compare
| SoFi | Credit Cards | 401(k) Loan | Home Equity Loan | |
|---|---|---|---|---|
| APR range |
Fixed Rates 8.74% – 35.49%
(with AutoPay)5 |
12.00 – 22.86%6 | Varies | Varies |
| Fees | No Fees | 3% Balance Transfer | Origination | Application |
| Term | 2, 3, 5, 7 years | Rolling | 5 years, or 60 days if you lose your job | 5 – 30 years |
| Instant Pre-Approval | Yes | Yes | N/A | No |
| Amount | $5,000 – $100,000 | Varies | Up to 50% of vested 401(k) balance or $50,000 | Up to 80% of home equity |
| Unemployment Protection4 | Yes | No | No | No |
How do we offer such low rates?
We’re efficient because we’re digital and innovative. Doing business online allows us to keep expenses down. We then pass these savings onto our members. And, we look beyond just credit scores and debt-to-income ratios to consider factors like estimated cashflow, career, and education. So while other lenders charge higher rates to account for the possibility that borrowers won’t pay back their loans, our unique underwriting process helps ensure our members have a high likelihood of making their payments.
Rich Dad
Get $200 when your loan is disbursed by applying through this page.‡
Are you paying more than 11% interest on your credit cards? A SoFi Personal Loan could help you save thousands. With a low fixed rate and monthly payment, you can pay off high interest debt, like credit cards, or make a major purchase. It only takes minutes to apply.
Questions? Call us for a free consultation at 855-456-7634
Personal Loans – LP
Pay Off Your Credit Card or Invest in What Matters.
Are you paying more than 9% interest on your credit cards? A SoFi Personal Loan could help you save thousands. With a low fixed rate and monthly payment, you can pay off high interest debt, like credit cards, or make a major purchase. It only takes minutes to apply.
Questions? Call us for a free consultation at 855-456-7634
Leading Marketplace Lender SoFi Secures $200 million in Series D Funding
Leading Marketplace Lender SoFi Secures $200 million in Series D Funding
Third Point Ventures, Institutional Venture Partners and Others Participate in Financing to Power SoFi’s Growth
San Francisco, Calif. — February 3, 2015 — Social Finance, LLC (SoFi), a leader in marketplace lending, today announces $200 million in Series D funding led by Third Point Ventures and affiliates of Third Point LLC, with Wellington Management Company LLP, Institutional Venture Partners and existing investors also participating in the round. Goldman Sachs served as sole placement agent to the company on the financing. SoFi will use these funds to fuel the expansion of its consumer lending products throughout the United States and build out its marketplace with new options for investors.
SoFi launched as an alternative to traditional banking in 2011, and was the first to offer refinancing of both federal and private student loans. Since that time, the company has originated over $1.75 billion dollars in loans, and expanded to offer a suite of solutions for early stage professionals, including mortgages, MBA loans, and personal loans. Its low down payment mortgages and mortgage refinancing are currently available to qualified borrowers for primary residences in 12 states plus Washington, DC and will expand to additional states soon.
“Member response to the SoFi experience – our nontraditional underwriting approach, product innovation, and seamless customer service – has proven that we’re becoming the preeminent financial services provider for early career professionals,” said Mike Cagney, CEO of SoFi. “This financing allows us to continue to expand our unique offerings to them while delivering access to premium credit for our marketplace investors.”
Commensurate with its growth, in the past year SoFi has significantly strengthened its team and operations. The firm currently has nearly 200 full-time employees and is actively recruiting in several areas. Most recently, SoFi opened a 50+ person office in Healdsburg, California to house some of its sales, servicing and underwriting teams. SoFi also has offices in Washington, DC, Helena, Montana and Frisco, Texas.
In addition to its consumer lending products, SoFi provides its members with services like career advising, access to its member network, and entrepreneurial support to help them achieve financial and professional success. To date, SoFi has helped more than 60 SoFi members secure new jobs through its career support program and aided over 20 entrepreneurs in starting businesses.
About SoFi
SoFi is a leader in marketplace lending and the largest provider of student loan refinancing, with over $1.75 billion in loans issued. SoFi helps ambitious professionals accelerate their success with student loan refinancing, MBA loans, mortgages, and personal loans. Its nontraditional underwriting approach takes into account merit and employment history among other factors to provide unique financial and investment products. For more information, visit SoFi.com.
For media inquiries:
Debra Jack, SoFi
415.423.1316 (o)
415.706.5012 (m)
[email protected] or [email protected]
###
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