South End Capital Corporation (SECC), the nationally recognized, non-conforming real estate and business lender, is pleased to announce a plethora of innovative program and process improvements set to take effect immediately.

Sometimes it seems your only choices in funding a commercial real estate deal lead to a short-term trap. You have the option of gambling on an adjustable interest rate, or going for a fixed-rate loan that resets with a new interest rate after a few years. 

South End Capital is pleased to announce the closing of this $525,000 owner-occupied office refinance loan in Alabama. The borrower’s short-term loan had expired in March of 2019 and the current bank would not offer a refinance. A conventional or SBA loan was not possible with the current loan maturity date passed, and the borrower in need of an alternative income documentation loan.

We provided a $1,205,000, 167% LTV loan which included about $300K of working capital and consolidated $900K of debt. The property housed the borrower’s business and primary residence. Monthly business debt was reduced from roughly $14K to $9K. The final rate was 8.25% and was amortized over 25 years. 

We are pleased to announced the funding of this low documentation refinance loan secured by a 3 building property comprised of a used auto dealership, an auto-body shop and an auto-paint shop. The co-borrower had a 667 credit score but we underwrote the primary borrower’s higher score and provided a 5 year fixed, 30 year amortized loan at 7.5%.

South End Capital has recently announced the closing of 6 subprime SBA loan closings. These loans were provided to business owners who were previously shutout of financing from other SBA lenders. Borrowers with low credit, past derogatory issues, and unique situations are all considered under South End Capital’s program.

Starting today our SBA underwriting fee will be waived for first responders (police, firefighters and EMS). This fee waiver will constitute a savings of up to $2,500, and will enable first responders to proceed through our SBA loan process up until the issuance of a loan commitment, with zero out-of-pocket costs.

Starting today our SBA underwriting fee will be waived for any veteran of the US armed services. This fee waiver will constitute a savings of up to $2,500, and will enable veterans to proceed through our SBA loan process up until the issuance of a loan commitment, with zero out-of-pocket costs.

We refinanced the 1st mortgage on this TX warehouse, paid off $109K of IRS tax liens and provided $15K of cash-out. We required no tax returns for this 75% LTV loan and we delivered a 5 year fixed, 30 year amortized rate at 8.625%.

LendVer evaluated many commercial real estate lenders and awarded South End Capital the 2019 Best Commercial Real Estate Lender due to its flexible and innovative programs, its speed of execution and its customer service.

We are pleased to announce that we have provided $230,000 to a Gas Station / C-Store and $220,000 to an Emergency Response Service via our Subprime SBA program. Both loans carried an 8.25% interest rate, were amortized over 10 years and had no prepay penalty.

US Business News issued a press release today announcing the winners of their 2019 Finance Elite Awards. South End Capital led the pack in the non-conforming commercial real estate category and was further selected as a featured lender in their awards publication. Noah Grayson, South End Capital’s President was interviewed for the article.

In 29 days we funded $252,000 for a 70% LTV auto-repair warehouse purchase loan for a borrower with 654 credit, who wanted a fast and affordable permanent mortgage. We underwrote off bank statements only and paid for the appraisal upfront (The borrower only paid $500 out-of-pocket which we credited back at closing). The interest rate was 9%, fixed for 5 years and amortized over 30 years.

South End Capital Corporation (SECC), the innovative, non-conforming real estate and business lender, commemorated its 10th year in business on February 21 with the launch of a new 30-year fixed small-balance commercial mortgage product. To celebrate, the company is also lowering rates….

Below is a selection of our recent Subprime SBA business loan closings. These loans for non-conforming borrowers, carried an 8.25% rate, were amortized over 10 or 25 years and most had no prepay penalty.

We’ve introduced the following new SILVER and GOLD level incentives to reward our partners who refer us repeat business…

Thank you to our valued Referral Partners, Borrowers, Colleagues and Friends for your support over the past 10 years. We look forward to many more great years to come!

We funded this $700,000, 70% LTV purchase loan in 28 days, with no tax returns and based on bank statement income only. We provided a 5 year fixed loan, amortized over 30 years at just 6.875%.

As a private, direct lender, South End Capital is not beholden to the government to purchase or approve the loans we make. This is why, during the government shutdown, we were still able to provide business owners and property investors affordable capital when many government dependent lenders could not. It’s encouraging that the government has temporarily re-opened, but borrowers should never have to worry that their access to capital will be impacted due to a political stalemate they have no control over.

South End Capital Corporation (SECC), the innovative, non-conforming real estate and business lender, has announced its readiness to deploy affordable capital to business owners and real estate investors shut out by the government.

Last year over 1,400 referral partners signed on and helped us achieve many significant milestones, including over 270 closed loans and more than $230 million funded. This year we are making a commitment to our referral partner community to improve the experience and offer better incentives. As of today, we will be eliminating our broker program and focusing exclusively on developing our referral partner channel.

We are pleased to announce the recent funding of a $900,000 Multifamily Blanket loan. We paid off back taxes and funded over $102,000 of unrestricted cash-out at closing. Our new mortgage was secured by two contiguous 8-unit multifamily properties in Long Beach, CA. This was a low doc. loan with a 5 year fixed rate at 6.875%, amortized over 30 years.

These recent closings represent our aggressive credit line and invoice financing programs that offer fast and accessible capital starting at only 0.4% (just $4 in fees on $1,000 borrowed!) for businesses located in all 50 states including Washington D.C., Puerto Rico, Guam, American Samoa, North Mariana Islands and the U.S. Virgin Islands.

South End Capital Corporation (SECC), the innovative, non-conforming commercial real estate and business lender, announced today that as it closes its 200th loan for 2018, it has surpassed a $200 million funding milestone. This places the firm solidly ahead of its competitors in the space.

This recent selection of closings includes a golf course, an Auntie Anne’s franchise, a sports bar, a used auto dealership, an assisted living facility, a no collateral business purchase, financing for a borrower only a year out of bankruptcy and more. South End Capital continues to prove that non-conforming credit attributes which disqualify borrowers from other lenders SBA programs are workable within its Subprime SBA model.

This business had accumulated high-interest rate debt and now needed an affordable consolidation loan and fresh working capital. The borrower desired reasonable terms but had low credit, no commercial real estate collateral and didn’t want to pledge his home. We provided a $170,000 consolidation and working capital loan at 7.75%, amortized over 10 years, with no prepay penalty and didn’t require the borrower to collateralize his home.

SECC was able to provide a $984,000 debt consolidation loan utilizing a 2nd mortgage on the borrower’s primary residence and residential investment property. The final interest rate was 7.75%, amortized over 10 years and with no prepayment penalty.

FedEx ground routes are historically difficult business purchases to finance. Since there is no significant collateral other than the delivery trucks and the income from the route itself, banks and most SBA lenders stay away. We were able to finance this business purchase at a rate of 7.75%, amortized over 10 years and with no prepayment penalty.

Through its innovate “no credit minimum” business line of credit program, South End Capital provided this construction company near immediate access to funds. The program requires no paperwork and has industry leading low rates starting at only 0.4% (just $4 paid on a $1,000 borrowed).

We are pleased present this selection of fourteen (14) recent Subprime SBA loan closings. These closings show that affordable financing, with rates in the 6% to 8% range, is available for borrowers with FICO scores from 550 and for those with unique or no collateral or outside-of-the-box business needs.