Princeton Alternative Funding Files Chapter 11

Princeton Alternative Funding LLC filed for chapter 11 on Friday, court records reveal. A related entity, Princeton Alternative Income Fund, LP, also filed for Chapter 11.

Princeton Alternative Funding provides capital for businesses that make consumer loans in the non-prime market.

The Princeton Alternative Income Fund was previously reported to be a woe affecting Ranger Direct Lending after the blowup of online consumer lender Argon Credit.

AltFi reported in November that Ranger had written to Princeton to urgently seek information about Argon-related financial reporting prior to the commencement of arbitration proceedings.