What is "qifang"

Qifang is a Chinese peer-to-peer lending online community focused on student loans.

Qifang was founded by Calvin Chin, who became its CEO. He is a Chinese American and a former ABC employee. With two friends, Qifang's operations were “basically doing a pure lending model focused on Chinese students wanting to go to school”.

Mr. Tingbin Tang, a serial entrepreneur, later on joined Qifang as COO and then CEO.

As a grown up from a small village in Hunan province of China, Tingbin understood how hard it is for a family to afford for their kids' tuition. So besides the lend to help model, he also introduced donate to help. For those college students who are able to pay back they can raise a P2P loan from Qifang; for those primary and/or middle school students who are not able to pay back, they can also raise a donation. Besides, Mr. Tang also introduced shop to help, game to help and ads to help business model to Qifang.

For personal reasons, Mr. Tang left Qifang at the early 2012.

In April 2013, Qifang ceased operations.