Student loan marketplace, College Ave Student Loans, announced on Thursday it secured a $65 million credit facility from Guggenheim Investments, the global asset management and investment advisory business of Guggenheim Partners.
College Ave Student Loans claimed the credit facility is another marker for it as the leading fintech lender in the student loan industry. To date, the platform has more than $2 billion in committed loan purchasing power. Speaking about the facility, Joe DePaulo, CEO and Co-Founder of College Ave Student Loans, stated:
“The credit facility from Guggenheim Investments enables us to accelerate our growth in private student loan lending and financing. 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.”
Founded in 2014, College Ave Student Loans’ mission is to offer the best student loan experience by simplifying the process and putting the borrowers in control.
“By specializing in student loans, we are able to give our customers the attention they deserve and deliver loans that are simple, clear, and personalized for the individual: we help you find your perfect fit. We offer competitive rates, a wide range of repayment options, and a customer-friendly experience from application through repayment.”