SoFi (Social Finance, Inc.), a private student lender, announced today that it has secured a $50 million lending facility from East West Bank, a full-service commercial bank serving businesses throughout the U.S. and Greater China. This facility adds to SoFi’s diversified funding base, giving the company increased capacity to fund and refinance student loans.

“This facility provides us with increased flexibility to deliver the best possible rates to our borrowers,” said SoFi’s Chief Financial Officer Nino Fanlo. “East West Bank is the type of innovative bank we want to partner with to maximize our impact on the student loan market, and we look forward to expanding our relationship.”

“We are excited to work with the SoFi team,” added Marty Newton, Executive Vice President and Head of Specialty Lending at East West Bank. “Social Finance provides a valuable and needed service to the private student loan marketplace and in turn is helping many qualified students manage their financial debt in an appropriate manner.”

SoFi has now secured more than $150 Million total in warehouse capacity, including facilities from Morgan Stanley, Bancorp and East West Bank. These institutional funds supplement funds from alumni and other community investors.

SoFi is an innovative student lender focused on building a community around traditional financial products.