Mission Statement

As minority founders with STEM pedigree, we believe in the power of STEM to drive stable career paths and strong future prospects. A portion of profits from STEM Lending will go to non-profits: SMASH, a rigorous STEM enrichment program; Code.org, dedicated to increasing women & minorities’ participation in computer science; N-Power, launching digital careers for military veterans, young adults from underrepresented communities; STEM Matters NYC, Career Day events to learn about careers in STEM fields; and Girls Who Code, promoting women to learn coding.

STEM Lending was founded out of a realization by Shantanu and Hakim that Millennials majoring in Science, Tech Engineering & Math (STEM) were being underserved in the lending market.

Research has consistently shown strong future earning potential of STEM majors, and yet current credit scoring methods hurt Millennials, due to their thin credit history.

Shantanu and Hakim are themselves Millennials and worked together at Goldman Sachs, with Shantanu specializing in Technology and Hakim in Mortgage Finance.

We both had stressful experiences when seeking loans, which left a lasting impression on us.As an immigrant STEM PhD student at UNC, Shantanu had a difficult experience getting a loan with his thin credit history in the US. At MIT, Hakim saw classmates arriving from Spain, Italy, and Russia who already had Masters and PhD degrees, and still found it was next to impossible to get a loan at competitive rates.

As a first time home buyer, Hakim was shocked to find that his mortgage application and closing process required detailed mortgage knowledge, something most first time home buyers would not have. Between the pre-approval, full application, appraisal, inspection, title search, comparing rates, and getting the final commitment, his entire mortgage process lasted over two months!

STEM Lending was founded to address these inefficiencies in providing better rates to creditworthy borrowers, and to also streamline what is a broken and grueling user experience today.

In the US, a quarter of homebuyers are unhappy with their mortgage lender and the disappointment is even worse for first-time homebuyers. Getting a loan shouldn’t be confusing, shouldn’t require you to manually negotiate with multiple lenders and brokers, and it shouldn’t take that long. Today’s borrowers demand speed, efficiency and a transparent experience – that’s what STEM Lending is committed to provide.