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Ta-Lend’s mission is to: promote global economic growth by empowering
international communities to reach their full potential,
while increasing cross fertilization among different cultures, businesses and
people.
Specifically Ta-Lend’s patent-pending model allows for borrowers and lenders
effective interest rate
while contributing to global economic and social growth through a P2P lending platform.
Let's start
by understanding the opportunity:
over the past ten years 25% of engineering and technology
companies have been partially founded by immigrants with an entrepreneur drive.
Foreign nationals in the United States have contributed to 24%
of all international patent applications. The majority of these talents have
completed their degrees in American schools
It is also a estimated that the economic impact international students in the
US totals over fourteen billion dollars every year
Recently a significant portion of international students are choosing
other destinations such as Canada, the United Kingdom, and Australia to
complete their higher education degrees due to:
increasing tuition costs in the US, scarcity of reliable lending options
that don't require students to have credit history, a cosigner, or collateral
and
tighter immigration policies
Ta-Lend provides an alternative lending model that allows international students
to borrow money without the need of a US cosigner
and at an attractive interest rate
On the other hand Ta-Lend’s investors are able to earn a higher return than
existing lending options
while supporting the prospective student
Now let's see how the Ta-Lend model works
Padma is a prospective student from India who wants to study in the United
States. She is interested in studying in the US but is not sure if she can afford
the tuition cost and doesn't have a relative or friend in the US who can
serve as a cosigner for a loan
She decides to apply for a Ta-Lend loan while she submits her admissions
application to the school
In her application Padma expresses her willingness to pay 50% of
tuition as tuition advancement and borrow the remaining 50% via a
Ta-Lend loan
Then Ta-Lend, by using its proprietary model provides Padma with a matrix that guides her
on the minimum amount of funds needed from friends and family to continue with
the loan process
and it also shows how different levels of investment from friends and family
can improve her loan’s interest rate
Based on this matrix Padma decides to invite different friends and family members
via the Ta-Lend site
Friends and family investors are happy to help Padma with her education
and get an interest rate higher than the savings rate
They go into the Ta-Lend site and transfer 5% of tuition towards
Padma’s tuition loan. Additionally Sid Gupta, an Alum who came to the US
five years ago from India checks Padma’s profile in Ta-Lend’s site
and that her potential is huge
he also decides to commit funds towards Padma’s tuition. By doing this Gupta
helps a prospective student and receives some attractive return on his investment. Once
these rounds of pledges are completed and meet the minimum amount required to
continue with the process, Ta-Lend will send final information with total amount of
tuition covered by friends family and other investors,
as well as their terms and conditions. Then the partnering lending
institution will be funding the remaining portion of the loan
With all the funds received through this process
Padma is able to continue her education
After graduation Padma decides to stay In the US for a couple of years
and then return to her home country to start a new international business,
contributing to overall economic growth
this is a WIN-WIN situation where Padma gets an affordable loan, while friends
and family and external investors are able to get a return on their contributions towards
Padma’s education and ultimately strengthen social and professional networks