About Yrefy, LLC

The startup offers a consumer finance platform that focuses on distressed private student loans, providing co-borrowers with a fixed repayment timeline and a clear exit strategy without impacting their credit scores. This enables students to secure funding while minimizing the risk of future financial strain.

```xml <problem> Many private student loan borrowers, especially those with co-borrowers, face challenges with high interest rates, inflexible repayment terms, and the potential for default, leading to financial strain and damaged credit scores. Existing refinance options often exclude borrowers with delinquent or defaulted loans, limiting their access to more manageable repayment plans. </problem> <solution> Yrefy provides student loan refinancing solutions tailored for borrowers struggling with delinquent or defaulted private student loans. The company's proprietary credit and risk model allows them to offer refinancing options to underserved borrowers, even those with low credit scores. Yrefy aims to lower interest rates, reduce total debt, and customize payment plans to fit individual budgets. By refinancing these loans, Yrefy helps borrowers rebuild their credit, release co-borrowers from their obligations, and achieve long-term financial stability. </solution> <features> - Refinancing for borrowers with delinquent or defaulted private student loans - Co-borrower release option with on-time payments - Fixed interest rates, not dependent on credit score, ranging from 1% to 6% - Flexible repayment terms customized to the borrower's loan balance and needs - "SKIP-12" program allowing borrowers to skip one payment every six months during times of hardship - Forbearance options for borrowers on active military duty, in accordance with the Military Lending Act - No prepayment penalties - Online investor portal for managing investments and returns </features> <target_audience> Yrefy's primary target audience includes private student loan borrowers and their co-borrowers who are struggling with delinquency or default, as well as lenders seeking to increase recoveries on defaulted private student loan accounts. </target_audience> <revenue_model> Yrefy generates revenue through interest on refinanced student loans and a 5% loan origination fee assessed at the time of loan payoff. The investor side of the business generates revenue by offering accredited investors fixed-rate returns on investments in Yrefy's loan portfolio. For example, investors can earn up to 10.25% fixed rate return on a five-year note. </revenue_model> ```

What does Yrefy, LLC do?

Where is Yrefy, LLC located?

Yrefy, LLC is based in Phoenix, United States.

When was Yrefy, LLC founded?

Yrefy, LLC was founded in 2017.

How much funding has Yrefy, LLC raised?

Yrefy, LLC has raised 16750000.

Location

Phoenix, United States

Founded

2017

Funding

16750000

Employees

57 employees

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Yrefy, LLC

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Executive Summary

yrefy.com 700+

Founded 2017 – Phoenix, United States

Funding

Estimated Funding

$10M+

Team (50+)

No team information available.

Company Description

Problem

Many private student loan borrowers, especially those with co-borrowers, face challenges with high interest rates, inflexible repayment terms, and the potential for default, leading to financial strain and damaged credit scores. Existing refinance options often exclude borrowers with delinquent or defaulted loans, limiting their access to more manageable repayment plans.

Solution

Yrefy provides student loan refinancing solutions tailored for borrowers struggling with delinquent or defaulted private student loans. The company's proprietary credit and risk model allows them to offer refinancing options to underserved borrowers, even those with low credit scores. Yrefy aims to lower interest rates, reduce total debt, and customize payment plans to fit individual budgets. By refinancing these loans, Yrefy helps borrowers rebuild their credit, release co-borrowers from their obligations, and achieve long-term financial stability.

Features

Refinancing for borrowers with delinquent or defaulted private student loans

Co-borrower release option with on-time payments

Fixed interest rates, not dependent on credit score, ranging from 1% to 6%

Flexible repayment terms customized to the borrower's loan balance and needs

"SKIP-12" program allowing borrowers to skip one payment every six months during times of hardship

Forbearance options for borrowers on active military duty, in accordance with the Military Lending Act

No prepayment penalties

Online investor portal for managing investments and returns

Target Audience

Yrefy's primary target audience includes private student loan borrowers and their co-borrowers who are struggling with delinquency or default, as well as lenders seeking to increase recoveries on defaulted private student loan accounts.

Revenue Model

Yrefy generates revenue through interest on refinanced student loans and a 5% loan origination fee assessed at the time of loan payoff. The investor side of the business generates revenue by offering accredited investors fixed-rate returns on investments in Yrefy's loan portfolio. For example, investors can earn up to 10.25% fixed rate return on a five-year note.