South End Capital’s President, Noah Grayson, Announces 2019 Company Updates

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.

South End Capital Funds a $900,000 Multifamily Blanket Loan at 6.875% and a $325,000 Chicago Mixed-Use Cash-Out Refinance Loan in 18 Days

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.

South End Capital is Pleased to present a Selection of our Recent Credit Line and Invoice Financings

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 Closes its 200th Loan for 2018 Surpassing the $200 Million Funding Milestone

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.

South End Capital Announces $7,737,000 of Recent Subprime SBA Closings

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.

South End Capital Closes a $170,000 Subprime SBA Debt Consolidation Loan for a GA Dental Practice

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.

South End Capital Provides a $984,000 2nd Mortgage, Business Debt Consolidation Loan for a Software Company

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.

South End Capital Gets it Done Funding Business Purchase Loans for a FedEx Ground Route and a Sports Apparel Co.

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.

South End Capital Provides a $41,000 Business Line of Credit Approval in 3 Minutes and Funds in 1 Day

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).

South End Capital Presents a Selection of Recent Subprime SBA Loan Closings

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.

South End Capital Funds a Stated Income, $460,000 Unrestricted Cash-Out Loan for a Nightclub/Bar

Trying to get a competitive, permanent fixed rate loan for a special-purpose property is next to impossible for most borrowers–but not if you come to us! We funded over $400,000 of unrestricted cash-out secured by a nightclub/bar and required no tax returns, financials or 4506T. We provided a 5 year fixed loan, amortized over 30 years at 8.375% and with a customized 5%, 4%, 3%, 2%, 1% declining prepayment penalty.

South End Capital Closes a $1,150,000 Equipment Loan for a Michigan Trucking Company at 7.5%

This borrower needed a loan for working capital and to purchase new tractor trailers for his trucking company. He wanted a competitive rate, but he had no real estate collateral, just the trucks to be purchased. We provided $150,000 of unrestricted working capital and $1,000,000 for the purchase of new trucks without any real estate collateral required. The loan was amortized over 10 years with a 7.5% rate and no prepayment penalty.

South End Capital Funds $3,250,00 for a Savannah, GA Bed & Breakfast in 10 Days

This loan request first came to us in June of 2017 and multiple times thereafter. Each time we offered the client competitive terms and the promise that we fund his loan quickly. After spending a year and thousands of dollars in search of a better rate with other lenders who couldn’t perform, the borrower came back to us and we funded his loan in 10 days. We used the existing appraisal he had paid for with another lender, saving time and money.

South End Capital Closes a $350,000 Subprime SBA Working Capital Loan for an Amusement Park Located in South Carolina

Our Subprime SBA Program doesn’t just work great for borrowers with low credit, but also for unique businesses that other lenders won’t touch. We provided $350,000 of unrestricted working capital for an amusement park at an 8.5% rate, 10 year amortization and no prepay penalty.

South End Capital Closes a $250,000 Subprime SBA Working Capital Loan for a Dental Practice

The borrower sought working capital at affordable terms which was difficult with < 640 credit, back income taxes and no real estate collateral. This loan was a great fit for us since we require no collateral for SBA loans < $500,000, consider low credit and allow back income taxes on an IRS payment plan.