Firstrust Bank, as lead bank for College Ave, has arranged a $1 billion banking facility to help fuel the continued growth and success of College Ave’s student loan program.

The collaboration demonstrates Firstrust’s commitment to innovation through Banking-as-a-Service (BaaS) solutions.

“Firstrust’s role as the lead banker in this partnership demonstrates our capacity to support large-scale lending operations, leveraging our banking infrastructure to facilitate the distribution of student loans with a specialized solution provider like College Ave,” said Richard J. Green, Executive Chairman and Owner of Firstrust Bank. “This partnership underscores Firstrust’s commitment to support and empower our customers with innovative financial solutions. We look forward to continuing to work closely with College Ave to deliver exceptional value and service.”

“College Ave is excited to continue to partner with Firstrust Bank as the lead bank for our banking facility,” said Joe DePaulo, Co-Founder, Chairman, and Chief Executive Officer of College Ave. “We’ve been clients of Firstrust since 2015, and they have helped us along the way as we’ve grown. With Firstrust as our lead bank for our banking facility, we can focus on customer acquisition and servicing, without the complexities of operating as a bank.”

Firstrust Bank, The Official Bank of the Philadelphia Eagles, and its wholly owned subsidiary Hatch Bank are trusted and experienced partners to technology-enabled companies, like College Ave, that need sophisticated, complex BaaS and loan structures.

Contact Andrew Tauber at Firstrust Bank at atauber@firstrust.com or John Marion at Hatch Bank at jmarion@hatchbank.com to schedule a consultation.