EdFinancial Services
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Headquartered in Knoxville, Tennessee, EdFinancial Services provides student loan servicing for 15 of the nation's top 100 lenders. EdFinancial partners with regional and national banks, secondary markets, state agencies and other student loan providers to create innovative, customized solutions.
In 1988, CEO Tony Hollin launched Edsouth, the precursor to EdFinancial Services, in Knoxville. With the backing of local underwriters, Hollin spent six years steadily building the company, going bank to bank buying student loans.
Instead of marketing predominantly to students like some of its competitors, it used a business-to-business strategy and communicates directly with financial aid administrators. The strategy worked, with a 70% annual growth rate over a five year period, and an increase from $3 million to $35 million in annual revenue.
In 2002, the company launched eCampusTours.com, which allowed students to search online for colleges. The website featured 360° by 360° virtual college tours of more than 11,000 college campuses, allowing students to see campus life through IPIX virtual tours.
