<h1>History</h1> <p>For more Info, see:&nbsp; <a href="../../../about">About UniThrive</a> | <a href="../../../team">The UniThrive Team</a> | <a href="../../../blog">UniThrive Blog</a></p> <p>In December 2007, we had an idea that they felt could potentially revolutionize the way students financed their college education. The concept was simple: pool together alumni to make small micro loans to students to help them pay tuition.</p> <p>At the time we recognized the inefficiences of the student lending market. We saw an industry dominated by profit-drive and impersonal banks that gave students rigid and burdensome loan terms. Indeed, even at an institution with such a generous financial aid program like Harvard's, we saw too many of our peers forced to compromise their college experience. Many of our friends - even those on financial aid - worked several jobs and often had to forego opportunities for public and community service.</p> <p>After seeking feedback from students, professors, administrators and alumni, we were convinced UniThrive could be a viable and successful online platform for student loans. In February 2008 we began to develop our business plan. That spring we submitted our idea into Harvard College's premiere entrepreneurship competition, the i3 Innovation Challenge. We were awarded one of the top prizes and along with it, seed capital.</p> <p>In April 2008 we met with top executives at several leading online peer-to-peer lending platforms (Kiva, Prosper, Lending Club and Virgin Money) in San Francisco and Boston. We received some great advice and strong encouragement to push forward to make UniThrive a reality.</p> <p>Development of the UniThrive site began in earnest during the summer of 2008. We invested personal savings into the project, with the understanding that we would likely never be repaid. We are passionate about this cause and we are doing it not to make a buck, but to make a difference.</p> <p>For the next several months, we worked around the clock to build the suite and lay the groundwork for marketing the platform to students and alumni. In March 2009, the beta testing site was launched. The site went live in April 2009 and the first loan pledge was made on April 22, 2009. <br /><br />Along the way there have been setbacks and roadblocks, but we have persevered and continued to move forward, fueled by the excitement that what we are doing could really change the way students pay for their education.</p> <p>&nbsp;</p> <p>- The UniThrive Team</p> 2008-11-04T13:17:28+00:00 9 History 10 history 2009-05-19T11:22:42+00:00