MPower Financing announced plans this week to raise $100 million that will help fund student loans for international students and others who are left out of traditional lending.

The Dupont Circle–based company is seeking debt funding that will finance the student loans. It’s separate from an equity raise that would fund hiring and other growth at the startup, said cofounder Mike Davis.

The debt fundraising round, which is in progress, is a response to demand for the company’s loans, and Davis believes the added funding can help finance loans for about 5,000 students.

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