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.

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.

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.