Social Finance, an alternative lender that has made its name in student loans, has branched out into personal finance.

"I wouldn't call it a new direction so much as expanding into the business strategy we had all along," Mike Cagney, a co-founder of SoFi and its chief executive, said in an interview. "The intent has always been to extend into other products." According to some reports, SoFi has been offering unsecured personal loans for several months.

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