Online student lending platform, Climb Credit, announced this week it has entered into agreements with investors to purchase $130 million of student loans originated on its website. According to the lender, this new transaction will enable it to continue expanding its student loan programs beyond its current network of software development, UI/UX design, robotics, welding, nursing, and other skills-based programs in additional high-earning fields.
“This transaction is further testament to our innovative approach of building a student lending platform focused on quality skills-based programs that increase their students’ earning potential. Thousands of students have leveraged our platform to access schools and, with this transaction, we’ll be able to offer it to thousands more. When Climb aligns the incentives between students, school and lenders, everyone succeeds.”
Hadi Habal, Co-Founder and CEO of HCG Funds, one of the investors in the loan purchase agreements, commented:
“We are pleased to add Climb Credit to the list of digital finance origination platforms that have been approved for our private investment funds. Climb Credit’s introduction of digital lending into the skills-based education market fits well with our vision of an ever-expanding digital finance investing ecosystem.”
Rafael also revealed to Crowdfund Insider:
“This transaction is a gratifying recognition of the solidity of our business plan, our infrastructure and our team. We’re excited to have HCG Funds and Ferry Farm Capital join our mission of providing better access to high ROI education.”
Climb Credit added it is also continuing to work with Ferry Farm Capital, which has been a financing partner of the company since its inception.