The IESE MBA is delighted to announce that we have joined the Prodigy Finance Community Loan program, which will enable international students to join Prodigy Finance\u2019s global community and obtain loan funding for their studies at IESE. Anthony Hall, Head of Business Development at Prodigy Finance, explains to us how\u00a0it works.<\/p>\n
IESE: What is Prodigy Finance and what help does it offer students?<\/strong><\/p>\n Anthony: Prodigy Finance was started by 3 MBA students who experienced firsthand the difficulties of financing an international MBA. Alumni, Universities and other interested investors receive a financial return, and students gain access to the education that they otherwise may not have been able to finance. Students can apply online for a loan and receive a conditional approval in 5 working days. \u00a0Students can\u00a0borrow\u00a0a maximum of\u00a080% of the full cost of attendance \u2013 including tuition and living expenses. The amount offered to each individual may differ, as the amount depends on their individual affordability. If a portion of the loan is being used for living expenses, IESE will transfer those funds directly\u00a0to\u00a0the student once the funds have been received from Prodigy, shortly after the start of class.<\/p>\n I: Your company was founded by MBA graduates. Would you say that having firsthand experience of the funding process helped you find a niche in the market and create the company?<\/strong><\/p>\n A: Absolutely. We recognized that MBAs are a very special group, but who are underserved by traditional banking and loan products. We understood firsthand what it\u2019s like being an international student, and the anxiety associated with searching for financing for months on end. When looking for funding, we again turned to the MBA community, as the ones who understand what, and who we are supporting.<\/p>\n http:\/\/youtu.be\/akzJXQyttpI<\/p>\n
\nWe identified that both the opportunity, and the solution was to bring back the community into business-school funding.<\/p>\n