One of the leading lenders of student loan consolidation has announced an expansion into Manhattan. Darien Rowayton Bank Lending is the company occupying the new office space in New York City. Darien Rowayton Bank Lending is an affiliate of the parent company, Darien Rowayton Bank (DRB). So far the affiliate and parent companies are some of the fastest growing student loan lenders since they were the first organizations to reach over a billion dollars in student loan refinancing. The move comes shortly after DRB closed its fifth securitization deal.
As of now, the expansion is accommodating 20 new employees with DRB lending, but the office lease pertains to over 4,500 square feet of space on Broadway, Manhattan. In the future, this space will be home to more than just 20 employees since Darien Rowayton Bank intends to expand further into the New York area. The new office is meant to work on expanding the technological platforms and marketing capacity of DRB lending.
This is not the only expansion by DRB Lending. A new office in Bridgeport, Connecticut is opening up with almost 12,000 square feet of space for over 100 employees. This office is going to be a main hub for underwriting, operations, and customer service.
These expansions are products of the growing business of DRB lending; for instance, earlier it was mentioned that they were the fastest lender to reach over $1 billion in student loan refinancing. This type of growth requires expansions into new markets in order to accommodate the increase in consumer traffic through company services. At any rate, it shows the impact the student loan refinancing industry has on the consumer marketplace as companies begin offering more and more student loans.