December 31, 2018 Report - PYT Funds

December 31, 2018 Report

Fundraising: Currently raising Team Members: 5
Date Founded: January, 2015 Shareholders: 5
   

We make a college education affordable for the under-supported student.

We are a Qualified Small Business under Section 1244


 

Strategic Asks


  • We are looking for grant dollars and low-cost capital for our flagship product, the Loanership™ and low-cost loans for students. Please send introductions to potential donors, investors, team members, and program-related investment foundations to Stacie

Tactical Asks


  • We are seeking donors to directly fund low-cost loans for students in danger of dropping out due to a relatively small amount of financial need. These small loans of $500-$1,000 will help us in our effort to become certified as a community development financial institution (CDFI) and offer donors an opportunity to see a direct impact from their charitable giving. Please send referrals to Stacie.

Sales and Marketing


  • A referral agreement has been reached with Deserve, Inc. to market their MasterCard offering to our student users. Deserve has credit card products specifically built for both international and domestic students.

  • Discussions have begun with potential corporate clients regarding the Loanership™ and their corporate scholarship programs for employees and/or the community. The Loanership™ allows students to build credit with their scholarship funds and maximizes their student aid eligibility

  • We have submitted multiple proposals to national, regional, and community banks regarding the Community Reinvestment Act funding for Loanerships™ and/or low-cost loans for students unable to access traditional financing. We will continue submit these proposals to banks who have expressed interest in using their CRA funds to assist the student population.

Products and Services


  • Prospective borrowers may now complete loan applications online for Pay Your Tuition low-cost loans. Bringing our loan application process fully online will result in greater efficiencies in managing the origination process and communicating with our student users.

  • We have begun developing a product wherein colleges and universities would pay for our services for helping them with their student retention goals. We are seeking to monetize the value our funding solutions and student support bring to universities regarding student retention 

Operations


  • New Media Ventures is leading our latest round of funding and have secured $100,000 in commitments so far. They will continue to engage potential investors in the coming weeks. Please contact Wesley Panek for more information. 

Team


  • We want to wish all our investors, supporters, and advisors happy holidays! If you would like a copy of our holiday card mailed to you, please contact Kari Golden.