EdFinancial Services
Encyclopedia
EdFinancial Services provides student loan servicing for 15 of the nation's top 100 lenders, including regional and national banks, secondary markets, state agencies and other student loan providers. It is headquartered in Knoxville, Tennessee
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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.
Knoxville, Tennessee
Founded in 1786, Knoxville is the third-largest city in the U.S. state of Tennessee, U.S.A., behind Memphis and Nashville, and is the county seat of Knox County. It is the largest city in East Tennessee, and the second-largest city in the Appalachia region...
.
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
Business-to-business
Business-to-business describes commerce transactions between businesses, such as between a manufacturer and a wholesaler, or between a wholesaler and a retailer...
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
IPIX
IPIX was an imaging technology company headquartered in Reston, Virginia. One of its products was visual technology allowing the stitching of panoramic images into 360°x 180° field of view video and photography. The company's stock was traded on NASDAQ .Their .ipx format was for a time a widely...
virtual tours.