Last week, we had the pleasure of speaking with one of our newer partners, Noah Grayson. Noah is the Managing Director and Founder of South End Capital Corporation. Founded in 2009, SECC is a nationwide, non-conforming lender providing a variety of financing options, primarily in the commercial real estate and business loan space. In our conversation, we discussed trends he’s seeing in small business lending, and the massive changes occurring in the finance industry, brought on by the internet and big data. He also shared some helpful tips for small business owners and first-time borrowers looking to work successfully with a broker or lender and avoid the dangers of fraud.

South End Capital Corporation (SECC) announced today that it is once again making waves in the lending business—this time, defying the bridge lending industry’s penchant for collecting large upfront fees or due diligence deposits. SECC Managing Director Noah Grayson explained: “Traditionally, bridge lenders or hard-money real estate lenders demand large due diligence deposits upwards of $30,000. They also mandate the order of their own appraisal reports. But SECC’s core commercial bridge program [from $250K to $5M] does not require upfront due diligence fees.” A third-party appraisal or site inspection fee of a surprisingly low $1,500 to $3,000 is the only fee required after a letter of intent has been issued.

South End Capital Corporation (SECC) announced today that it has increased its maximum loan-to-value (LTV) to 80% for stated-income commercial real estate loans. The new LTV program is offered under SECC’s small-balance commercial real estate loan program from $250,000 to $5,000,000. It is designed for property investors or business owners who can’t document personal or business income but who have personal credit scores over 700 (borrowers with less than 700 credit can still receive stated income financing up to 75% LTV).

South End Capital Corporation (SECC) announced today that its new, “No Credit Check” Business Line of Credit program introduced only two weeks ago, has already approved dozens of credit lines—most in less than 24 hours.

South End Capital Corporation (SECC) announced today it has surpassed $100M in subprime Small Business Administration (SBA) loan closings, demonstrating that SBA loans are not just for A paper small business owner borrowers. According to SECC Managing Director Noah Grayson, “Most small business owners and business loan brokers believe that the SBA loan program is only for borrowers with high credit ratings in mainstream industries, who demonstrate consistent profitability over a long period. Yet this just isn’t the case.”

This 12 unit mixed-use property located in a small city in Florida had been mostly vacant for years. There were 4 retail tenants on the ground floor but the upstairs residential portion was completely uninhabitable. Our borrower, a first time investor who rented her primary residence, saw an opportunity here and needed a lender to take a chance on her.

South End Capital Corporation (SECC) announced today it has finalized a strategic capital relationship that will now enable the firm to offer inexpensive business lines of credit to its clients without requiring a credit check. “Offering a business line of credit without a credit check is an industry first,” stated SECC Managing Director Noah Grayson. He added, “Today, a business owner can’t even get a credit card without having his credit score pulled.” The new, ground-breaking program is available to most businesses in operation for more than six months and with greater than $25,000 in annual revenue.

It’s an interesting time to own a business, as it seems every day brings new surprises, both good and bad. Predictability is a foregone luxury of past generations. In today’s fast-paced, tech-fueled world, business owners must remain nimble and aggressive while trying their best to anticipate the future.

Receive up to a $100,000 business line of credit in 1 day with line rates starting at 4.66% (that’s only $466 on a $10,000 line!). There is no credit check, no paperwork, no origination fees and no prepay penalty–apply online, link your account, get approved and draw funds.

A highlight of 16 non-conforming business and real estate loan transactions that South End Capital Corporation has closed to kick-off 2018. Closed loans vary from a $3,750,000 tractor-trailer lease buyout and MCA consolidation loan to a $15,000 working capital loan for an accounting firm that funded in 1 day.

South End Capital Corporation (SECC) announced today it has finalized a strategic capital partnership that will enable SECC to now offer fast and affordable alternative business loans to its rapidly expanding client base.“We are so thrilled to be able to offer businesses previously relegated to merchant cash advances, a better option,” stated SECC Managing Director Noah Grayson. “These new streamlined and affordable small business loans are a breath of fresh air in an industry inundated with prohibitive capital.”

When Grayson reviewed an email that he received from the borrower, which included a copy of the LOI, he knew immediately that it was fraudulent and the borrower had been misled. “It was a fraudulent LOI and we had no record of the borrower or the brokers who provided it in our system,” Grayson exclaimed.

South End Capital Corporation (SECC) has announced that it is expanding its aggressive business financing program to include affordable loans from $30,000 to $350,000 for business owners without real estate or other hard collateral. The move comes as millions of business owners are scrounging for capital to meet year-end financing challenges. Loan funds can be used for unrestricted working capital, expansion, debt and merchant cash advance consolidation or other business needs.

This borrower wanted a competitive long term fixed commercial real estate loan without the headache of working with a bank. We funded a stated income, no tax return loan, we charged ZERO loan points, closed in less than 45 days and provided unrestricted cash-out.

This established specialized business was trading hands after many years. The new buyer required capital to acquire the business, the real estate as well as funds for new equipment and working capital. We provided $318,500 to purchase the real estate, $75,000 for new equipment and $156,600 of unrestricted working capital.