College Ave Student Loans, Wilmington, announced it has secured a $65 million credit facility from Guggenheim Investments, the global asset management and investment advisory business of Guggenheim Partners.
The multi-million dollar credit facility provides financial technology (fintech) lender College Ave with increased capacity to expand its private student lending business.
“The credit facility from Guggenheim Investments enables us to accelerate our growth in private student loan lending and financing,” said Joe DePaulo, CEO and co-founder of College Ave Student Loans. “The new financing highlights our strong, diversified capital structure and funding base that allow us to deliver best-in-class products for our customers and consistent performance for our investors.”
College Ave originates new private undergraduate, graduate, and parent loans as well as student loan refinancing. To date, College Ave has more than $2 billion in committed loan purchasing power and says it has a high customer satisfaction of 4.8 out of 5 stars.