College Ave Student Loans on Feb. 22 announced that it has secured a $65 million credit facility from Guggenheim Investments, the global asset management and investment advisory business of Guggenheim Partners.
The Wilmington-based fintech lender specializes in private student loan lending and financing. The company originates new private undergraduate, graduate and parent loans, as well as student loan refinancing.
“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.”
The firm has more than $2 billion in committed loan purchasing power.