Olympic Career Training Institute Secures $25 Million in Incentive-Aligned Tuition Financing Capital to Grow Income Share Agreement Program
NEW YORK, June 23, 2021 /PRNewswire/ -- Olympic Career Training Institute (OCTI) today secured $25 million in growth financing to drive the expansion of their tuition financing programs. The Tennessee-based company leverages small class sizes and an experienced staff to train successful commercial truck drivers, a key industry experiencing acute labor shortages and strong demand. OCTI plans to increase access to their program through the use of Income Share Agreements, which will be available to students as a result of this capital infusion. These incentive-aligned financing products demonstrate OCTI's innovative ethos and dedication to delivering exceptional student outcomes.
Olympic Career Training Institute has partnered with Leif, the Tuition Finance Management Platform. Leif works with industry leading education providers who deliver exceptional outcomes to students across a variety of fields and arranged the financing for OCTI. Leif's outcomes-aligned tuition financing solutions include Income Share Agreements which help education providers maximize their program's growth and impact potential.
Trey Carter, President of OCTI, commented: "Our mission is to transform students of all backgrounds into dynamic and highly skilled commercial drivers. Incentive-aligned financing embodies this mission. We chose to partner with Leif because they are the market's only full-service ISA Program Manager, enabling us to secure ISA financing and leverage their best-in-class technology solutions to streamline our origination and program management workflow. Leif's expertise made structuring, launching and financing our ISA program a smooth experience for OCTI and our students."
"Leif is committed to partnering with the best training providers across the country in any field of study and helping them maximize their impact by leveraging outcomes-aligned tuition financing in all its forms," remarked Jeffrey Groeber, Founder and CEO of Leif. "Olympic Career Training Institute has an extensive track record of delivering strong student outcomes across a diverse student body in one of the nation's largest occupations. For this reason, we were thrilled by the opportunity to partner with OCTI and increase access to their training."
About Olympic Career Training Institute:
OCTI is a Department of Labor approved training provider that is committed to career training in the Memphis community. OCTI was created in 2010 due to the overwhelming need for training in logistics, the largest employer in the southern region economy. OCTI seeks to become the leading training provider for the Regional Aerotropolis as it transforms from "America's Distribution Center" to the aerotropolis that links air, rail, truck and barge as a complete and seamless transportation system for moving people and product around the world.
About Leif:
Leif is a technology company dedicated to increasing access to quality and affordable education. The company has developed an end-to-end platform that enables the design, origination, and program management of Income Share Agreement programs. As the infrastructure layer that powers the incentive-aligned tuition finance ecosystem, Leif partners with schools to provide students with an outcomes-oriented form of education finance. Leif enjoys the benefit as the market leader based on the following core metrics:
- 20,000 originations
- 200 partner schools
- $300 million in arranged financing
SOURCE Leif
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