Genesis Lending Services Expands Options for Credit-Challenged Students in Educational Programs

Genesis Lending Services, a subsidiary of Beaverton, Ore.-based Genesis Financial Solutions, Inc., announced today that in late March the company signed its 16th partnership to provide tuition financing. Genesis offers alternative and gap financing to student populations that do not qualify for traditional financing. Genesis lends to vocational-certificate, 2-year associate, and 4- year programs for students in need of supplemental or full-tuition loans.

“What we’ve created,” says Brian Enneking, GFS’ Senior Vice President of Lending, “is a group of products that serve the most credit-challenged applicants. The demand for career training in the United States continues to increase.” Enneking continued, “While the availability of government-backed loans and grants has remained constant or decreased. In many cases, individuals with poor credit make up the majority of schools’ applicants, and don’t qualify for most traditional lending programs.”

Schools respond to Genesis products, according to Enneking, because the company offers reasonable pricing for students and works closely with schools and training providers to tailor the lending programs to the schools’ needs. Because of its experience in subprime markets, Genesis can accommodate students with poor credit or lower credit scores.

Genesis is a diversified financial services company with significant expertise and customized programs focused on subprime consumer lending and banking services.

Genesis entered the student loan market in late 2003. The company?s student loan products blend customer service with ongoing credit education. Genesis representatives spend a lot of phone time with student loan customers, explaining how their credit payments affect their loan and credit history.

“Successful servicing is really borne out of educating consumers how to manage their credit,” Enneking says.

About Genesis Financial Solutions
Genesis Financial Solutions, of Beaverton, Ore., is a privately held diversified consumer financial services company that originates credit card accounts and consumer loans across the credit spectrum. Genesis also acquires performing and nonperforming consumer debt portfolios. Genesis’ growth is realized through establishing partnerships with retailers, service providers and other lenders, as well as through direct marketing to consumers. Senior management has extensive consumer lending and banking experience, and bases decisions on sophisticated analytical systems and models.

Q1’06 credit card portfolio acquisitions of more than $250 million in receivables has established Genesis as one of the top 50 card companies in the country. In all, the company has more than 250,000 performing and 1.75 million nonperforming accounts under management. Learn more about the company by visiting the Web site at www.genesis-fs.com.