Social Finance, Inc., widely known as SoFi, is an online personal financing company. SoFi was created to provide facilities such as student loan refinancing, mortgage loans, personal loans, life insurance, and wealth management.
SoFi was founded in the year 2011, by James Finnigan, Dan Macklin, Ian Brady, and Mike Cagney. Today, the company has 380,000 members, $20 billion in funded loans, and $2.05 billion in member savings to. SoFi has also established deals with various leading organizations, such as Barclays and Morgan Stanley, for the effective deposition of loans. In addition, the company also offers discounts on loans and career/salary guidance to members.
SoFi’s affiliate program is based on the referral system. It is easy to sign up for, easy to use, and can be a great way to earn a little extra on the side.
SoFi allows affiliates to promote the offerings of the company via referral. Affiliates can choose to share their unique referral link with friends, family, colleagues, or on a wider platform such as a website or social media. The aim is to get others to register with SoFi and either take out a personal loan or refinance student and parent PLUS loans. When this happens, both the affiliate and the referred user get paid.
Affiliates stand to earn $300 for every new referral who takes out one of the abovementioned loans, while the referred party will be paid $100. This commission rate can add up to a hefty total – e.g. if you refer ten people who end up availing one of SoFi’s services, you can earn a hefty $3000.
The company has several official rules that must be followed by both the affiliate and the referred party, in order for the affiliate to effectively earn commissions. The referred party must sign up by using the unique referral link sent to them by the affiliate only. The bonus and referral reward is awarded per new customer only – if the user goes on to take out more loans after the first one, you will not earn commission on any of these.
The SoFi affiliate program is open for all individuals residing outside of Michigan, USA,
To register with this program, affiliates must visit SoFi’s website, and fill out the registration form. Once the registration is approved by SoFi, affiliates can visit the dashboard and obtain their unique referral links. These can then be promoted to earn commissions.
The commissions and bonuses are paid out monthly, making the process fast and efficient. However, affiliates must remember that the bonuses and commissions are paid out only when the loan of the referred party is approved.
SoFi offers one of the best commission rates in the entire industry. Another advantage of choosing SoFi’s affiliate program is that it provides bonuses to not only the affiliates, but also to the referred parties.
Marketing SoFi’s offerings is easy – not only is the company reputable, the registration process is easy, and the program is as simple as sharing a unique link with your target audience.
SoFi has its headquarters in San Francisco, and provides loans to individuals all across America. Affiliates can target various groups residing in the US, depending on the sort of product they choose to promote (e.g. student loans are best marketed to students).