Upstart Secures $1.5 Billion Loan Purchase Agreement with Castlelake
Reuters
Yesterday
Upstart Secures $1.5 Billion Loan Purchase Agreement with Castlelake
Upstart Holdings Inc. announced a new forward-flow agreement with Castlelake, L.P., under which Castlelake will purchase up to $1.5 billion in consumer loans originated through the Upstart platform. This 12-month agreement is the third such arrangement between the two companies, following previous agreements to purchase up to $4 billion and $1.2 billion in consumer installment loans. The agreement aims to support Upstart's loan funding capabilities in various economic conditions.
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