SOURCE: SoFi (Social Finance, Inc.)

SoFi (Social Finance, Inc.)

July 09, 2014 09:00 ET

SoFi Announces CleanBeeBaby Awarded "Startup of the Year"

Lender's Entrepreneur Program Supports Starting Businesses With Student Loan Deferment and Business Coaching

SAN FRANCISCO, CA--(Marketwired - Jul 9, 2014) - Social Finance, Inc. (SoFi), a leader in peer-to-peer lending, today announced that CleanBeeBaby, an eco-friendly cleaning service for baby and toddler strollers and car seats, has been named the SoFi Entrepreneur Program "Startup of the Year." As a direct result of being a member of SoFi's Entrepreneur Program, Jennifer Beall, the founder and CEO of CleanBeeBaby, has received more than $150,000 in financing for the company from the SoFi community, led by investor Michael Kane. 

"As a SoFi borrower and part of its Entrepreneur Program, I have access to a network of people literally and figuratively invested in the success of my company and its financial future," said Jennifer Beall, Founder and CEO of CleanBeeBaby. "SoFi connected me with outstanding people who have helped my business grow in various ways from making investments to providing mentorship. We are proof of what SoFi's amazing community is able to create together."

CleanBeeBaby has raised almost $600,000 since launching in 2011, with plans to raise another half a million before the end of the year through connections directly made within the SoFi community. Additionally, as a SoFi borrower, Beall has saved more than $5,000 refinancing her student loans through SoFi and was able to defer payments while she got her business off the ground.

"Student loan debt shouldn't stop entrepreneurs from developing and raising capital for their companies," said Mike Cagney, CEO of SoFi. "Our Entrepreneur Program differs from traditional incubators by not only sourcing capital, but also providing resources like business development support, valuable mentoring and networking opportunities -- all without founders sacrificing equity."

Benefits of the SoFi Entrepreneur Program include up to six months forbearance on loans, access to SoFi's accredited investors, and professional mentorship. Additionally, career counseling resources are available to SoFi entrepreneurs looking to grow their teams, in fact, Beall recently used this service to help source a vice president of operations for CleanBeeBaby.

To date, SoFi has accepted 25 entrepreneurs into its Entrepreneur Program. For more information or to apply to SoFi's Entrepreneur Program visit https://www.sofi.com/entrepreneur-program/.

About SoFi

For the first time in history, accomplished graduates are unable to attain many of life's milestones -- like starting a company, purchasing a home, or buying a car -- because of the massive student debt burden. SoFi offers student loan refinancing, mortgages, and personal loans to highly qualified graduates. To date we've issued over $730M in loans to more than 8,000 members. Our community-based model offers borrowers unique benefits like career coaching, entrepreneurship support, and unemployment protection. We offer individual and institutional investors opportunities to invest in these bright minds and earn compelling rates of return. For more information, visit SoFi.com.

About CleanBeeBaby
CleanBeeBaby is an eco-friendly stroller and car seat cleaning enterprise that provides services in partnership with retail stores while you wait. The first of its kind in the world, the CleanBeeBaby mobile unit can be found at one of 50+ retail partners in Southern California and New York City, or is available for private house calls. CleanBeeBaby technicians are not only expert cleaners, but are nationally certified to install car seats and ensure the safety of our most precious cargo. To arrange an appointment with CleanBeeBaby, please visit www.cleanbeebaby.com.