CLEVELAND, June 27, 2017 /PRNewswire/ -- Splash Financial, Inc.— a finance company that provides online lending options to help medical trainees consolidate and refinance their student loan debt—today announced a new partnership with the Wisconsin-based Bank of Lake Mills.
Splash is unique among its competitors because it offers a refinancing program with deferred monthly payment options for residents and fellows who are still in their training period. According to the Association of American Medical Colleges, over 75% of medical school graduates have average debt of $190,000. The partnership with Bank of Lake Mills will give the company increased capacity to expand its online lending model while leveraging the expertise of an experienced bank lender who has funded more than $1 billion in educational loans to date.
"Splash Financial's innovative approach to financial services is what Bank of Lake Mills looks for in its partners," said Peter Schleicher, the Bank's EVP / Chief Financial Officer. "We look forward to growing with Splash to help them meet the needs of medical residents, fellows, and doctors."
"Bank of Lake Mills is exactly the type of forward-thinking bank that we want to work with in order to have a greater impact on the medical student loan market," added Steve Muszynski, Splash Financial CEO and Founder. "This partnership demonstrates our continued momentum as we work to transform the medical lending industry."
About Splash Financial
Splash Financial is a finance company that provides an online lending option for medical residents and fellows looking to refinance their student loan debt. Through unique program benefits such as deferred payment options, Splash gives trainees a sense of financial relief and the freedom to make better life choices during their training. To learn more, visit www.makeasplash.com. Banks or credit unions interested in Splash Financial partnership opportunities should contact Mick Boyle at email@example.com.
About Bank of Lake Mills
Bank of Lake Mills is a Wisconsin State Chartered Bank that was organized in 1893 and prides itself on a commitment to the communities and customers it serves.
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SOURCE Splash Financial