MURRAY, Utah--(BUSINESS WIRE)--Stride Funding, a mission-driven fintech company that offers access to outcomes-based education financing products, announced today a partnership with FinWise Bank to provide Income Share Loans (ISLs) and non-cosigner loans to students seeking affordable, flexible, and personalized funding options across degree and non-degree education.
Unlike traditional lenders, Stride Funding looks at where students are going, rather than where they came from. Stride Funding utilizes innovative credit models to drive access without requiring cosigners. In addition, Stride Funding provides meaningful wrap-around career support to support strong outcomes for its borrowers. Partnering with FinWise Bank will allow Stride Funding to reach more students, launch more products that increase access to affordable financing, and enable deeper regulatory compliance and transparency for its customers.
“Stride Funding was founded from a student-first perspective to better align the cost and value of education,” said Tess Michaels, Founder and CEO of Stride Funding. “Our solution offers students peace of mind when it comes to funding their studies. Partnering with a top-tier institution like FinWise Bank will allow us to reach students who may feel left out of traditional credit markets through no fault of their own and will allow them to achieve their full potential without having to worry about immediate loan repayments. The team here at Stride Funding could not be more excited for this incredible opportunity to work with such a mission-aligned partner.”
“FinWise and Stride Funding share a common goal of providing financing solutions that allow borrowers to fund their education no matter where they are in their financial journey,” said Simon Darchis, Director of Specialty Lending at FinWise Bank. “We want all students to reach their potential and working with Stride Funding will allow us to offer an innovative solution that helps them do just that.”
For more information on the financial products offered by Stride Funding and to check program eligibility, visit https://www.stridefunding.com/
About Stride Funding
Stride Funding, named the 2022 Startup of the Year by Startup Boston, is a venture-backed, mission-driven company that is transforming access to alternative and higher education with innovative forms of financing. In the past year, the company has closed the largest Income Share Loan fund in history, raising $105 million to support non-degree students in high-quality bootcamps, and launched various programs to support students at schools ranging from Stanford Law School to General Assembly. Charging ahead on its student-centric mission, Stride Funding has become the largest player in the outcomes-based financing market, onboarding more than 5,000 new borrowers in the last quarter.
About FinWise Bank
FinWise Bank is a Utah state-chartered non-member bank and a wholly-owned subsidiary of FinWise Bancorp, a Utah bank holding company headquartered in Murray, Utah. FinWise leverages strategic relationships with third-party loan origination platforms, proprietary loan analytics technology, and its seasoned management team to efficiently deliver innovative lending solutions to small businesses and individuals. FinWise currently operates one full-service banking location in Sandy, Utah. For more information on FinWise Bank, visit www.finwise.bank