Feb. 22, 2019
College Ave Student Loans, an online student loan provider, has secured a $65 million credit facility from Guggenheim Investments, according to a company release.
The Wilmington, Delaware-based firm said it will use the funding to expand its student loan business, which provides credit decisions to student borrowers through a 3-minute online application.
"The credit facility from Guggenheim Investments enables us to accelerate our growth in private student loan lending and financing," Joe DePaulo, co-founder and CEO of College Avenue, said in the announcement.
The company said it has more than $2 billion in committed student loan purchasing power.
In September 2018, the company completed a securitization of $199 million in student loans, its second securitization. Barclays and Credit Suisse were joint lead underwriters of that transaction.
Topics: Financial News, Mobile Payments
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