SCOTTSDALE, Ariz.--(BUSINESS WIRE)--CommLoan, a Scottsdale-based, early stage commercial mortgage lending technology company, today announced it has received $2.25 million in seed funding from Social Leverage and ViaWest Group. This financing will secure business development resources to accelerate sales and further strengthen CommLoan’s leadership position in the marketplace.
“CommLoan has built a distinctive platform designed specifically for the commercial real estate finance setting, improving the overall lender-borrower experience,” said Tom Peterson, founder and general partner of Social Leverage.
Steven Schwarz, Founding Partner of ViaWest Group, added: “Being in the commercial real estate business, we recognize the opportunity that CommLoan has identified, to change the way commercial mortgage real estate financing currently works, which will result in a win-win for both borrowers and lenders who use their platform.”
CommLoan is the first company to create a marketplace platform capable of sorting through thousands of lenders and potentially tens of thousands of loan programs, matching commercial mortgage borrowers with the perfect loan product. In addition to its state-of-the-art technology platform, CommLoan provides borrowers with complete support throughout the loan process through its experienced loan processing and underwriting departments. CommLoan provides loans to borrowers directly and also through its partnerships with commercial real estate brokerage firms and other commercial mortgage brokerage firms.
“The commercial real estate lending process is highly inefficient and borrowers are limited as it relates to their access to lenders and loan programs,” said Mitch Ginsberg, co-founder and CEO of CommLoan. “CommLoan aims to make the process efficient for both lenders and borrowers. For lenders on our platform, we offer access to a new source of potential borrowers, together with consistent, pre-processed packages underwritten to their specific guidelines. For borrowers, CommLoan gives access to the best available pricing, while providing white glove service throughout the lending process.”
“Thanks to Social Leverage and ViaWest Group, we have found the ideal partners who will help us take CommLoan to the next level,” said Marc Mirbod, co-founder of CommLoan.
Established in 2014, CommLoan is a commercial mortgage lending technology company that has created the first true marketplace to match commercial mortgage borrowers with the perfect loan product and features personal, concierge-style service. Headquartered in Scottsdale, Arizona, CommLoan is redefining the status quo by bridging the gap between lender and borrower. With its innovative commercial mortgage lending technology platform, CUPID™, CommLoan is able to grant access to hundreds of different lenders representing thousands of loan products, while providing the tools necessary to easily and efficiently compare the loan terms. For more information, visit CommLoan.com or call 1-877-566-8734.
About Social Leverage
Social Leverage is a partnership that invests in exceptional entrepreneurs, having invested in more than 100 companies in the past 10 years. Social Leverage partners with promising technology companies, bringing its entrepreneurial expertise, relationships and marketing experience to the forefront.
About ViaWest Group
Established in 2003, ViaWest Group is a Phoenix-based full-service commercial real estate acquisition, development, property management, investment and advisory firm. ViaWest Group has been one of the fastest growing real estate investment companies in the Valley over the last few years with over $300MM of acquisitions. Since inception, ViaWest has been involved in over $600MM of acquisitions. ViaWest Group is looking to acquire and develop more office, industrial, retail and commercial land parcels in the Southwestern United States.