Submitted by Todd on Wed, 2010/03/31 - 09:28
Posted in
Qifang is an online platform for financing student loans. Students who have been accepted into a school but can't afford the tuition costs can apply for a loan, and lenders can bid to finance all or part of the cost. Qifang works with universities and other institutions in China to verify the student's details and minimize credit risk.
Founded in 2007 by Chinese-American entrepreneur Calvin Chin, the website offers both a Chinese and English interface, and can process online payments via a range of national (AliPay, UnionPay) and international (PayPal, Visa, MasterCard) networks. Qifang was one of the Technology Pioneers named by the World Economic Forum in 2009, and has also been featured on TechCrunch.
Qifang is one of 30 finalists in the Intel "New World" Innovation Award for Non-Profits. The award website invites the public to vote on their favourite projects between now and April 9. Over the coming days, we will continue to introduce some of the finalists on this blog.
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