IRVING, Texas--(BUSINESS WIRE)--ReadyCap Commercial, LLC (ReadyCap), a nonbank commercial real estate lender offering financing up to $10 million nationwide, today announced it surpassed over $1 billion funded loans across commercial, bridge and Freddie Mac SBL financing channels in just three years. ReadyCap is the real estate origination division of Sutherland Asset Management Corporation (Sutherland), a full-service real estate finance company managed by Waterfall Asset Management.
ReadyCap originated its first loan in 2013 and in 36 months closed an additional 356 loans totaling over $1 billion. The private lender remains steadfast to its funding strategies and expansion of loan product offerings. Today, ReadyCap includes Ready Capital Structured Finance, the bridge financing arm and ReadyCap Lending, a preferred SBA 7(a) lending division. ReadyCap is expanding its team and multiple lending partnerships across the country.
“We appreciate our partnership with ReadyCap and their commitment to the small loan market,” said Steve Johnson, Freddie Mac’s senior director of small balance lending. “They’ve invested the time, resources and staff to reach this milestone in a short amount of time.”
Jim Going, CEO of ReadyCap, recognized his team who carry out the mission of the company and exceed expectations of referral sources and borrowers in the industry:
“There is a core group of employees who have contributed to the success of ReadyCap from the beginning. The commitment and dedication of those individuals provided the foundation for our overall success. Those who have joined subsequent to that first closing continue to build ReadyCap’s legacy. I am extraordinarily proud to be a member of this team and look forward to seeing us reach the next billion in the very near future.”
Keep up with the latest from the ReadyCap team on LinkedIn, Facebook and Twitter; you can also visit readycapcommercial.com to sign up for email communications.
About ReadyCap Commercial, LLC
ReadyCap Commercial (www.readycapcommercial.com), headquartered in Irving, Texas, is a non-bank, portfolio lender offering financing for small-balance commercial investment, multifamily, and bridge loan programs nationwide. ReadyCap and its affiliates have offices in Orange County, California; Dallas, Texas; Charlotte, North Carolina; Austin, Texas; Atlanta, Georgia; Washington, D.C.; New Providence, New Jersey and New York City, New York. Available financing for conventional commercial real estate and multifamily loans ranges from $750,000 to $10 million. Bridge financing is available up to $25 million and is offered through Ready Capital Structured Finance, a wholly owned division of ReadyCap. Founded in 2012, ReadyCap is a wholly owned indirect subsidiary of Sutherland Partners, L.P., the general partner of which is Sutherland Asset Management Corporation ("Sutherland"). Sutherland, a REIT, is a real estate finance company that acquires, originates, manages and finances commercial real estate loans, and to a lesser extent, asset-backed securities where the underlying pool of assets consists primarily of commercial real estate loans and other real estate-related investments. For more information, visit: readycapcommercial.com or call 888-354-0822.