“We’ve noticed a large number of brokers signing up with us are coming over from the MCA space. They’ve relayed to our staff that competition is too stiff to make enough money only originating MCAs, and they are looking for other avenues to bring in revenue,” Grayson said.

Online lending M&A is under way. PayPal is bolstering its merchant lending capabilities with the addition of Swift Financial. While the deal was kept under wraps, some industry participants heard some buzz about a possible combination.

This borrower required short-term financing to complete $300,000 of tenant improvements to increase the occupancy of his 70% occupied office building. He was also looking for over $500K of unrestricted cash-out for a time sensitive investment in other real estate. The low property occupancy eliminated him from conventional and non-conforming financing, and he needed a quick and easy bridge financing program to close fast!

We funded this stated income loan (no tax returns) for this 100% owner occupied, 32,822 sq. ft. Ohio industrial facility. We refinanced both a first and second mortgage, paid large tax and insurance bills that were coming due and provided $128,000 of unrestricted cash-out. This property is located in a small, rust belt town of less than 18,000 people.

We funded this stated income loan (no tax returns) for a 5 unit CA multifamily property in 32 days. We refinanced a $110,000 first mortgage, paid off $88,000 of delinquent real estate taxes and delivered over $240,000 of unrestricted cash-out.

We used our special, full documentation CA loan program to refinance this conventional borrower at a lower rate. He had difficulty finding a CA lender that would offer him bankable terms for his two property blanket loan request, which most lenders consider an un-bankable request.

We are pleased to announce that we’ve just funded $176,000 for the unrestricted cash-out refinance of a 6 unit multifamily property located in Norwich, CT. The borrower wanted a simple, light documentation loan process with competitive terms, but needed an 80% LTV. 

We consolidated 4 merchant cash advance (MCA) positions for this business reducing its approximate monthly debt expense from $49,598 to $5,759. We also provided $80,000 of unrestricted working capital and $240,000 for the purchase of new machinery and equipment. We delivered a 7% APR, amortized over 10 years and with no prepayment penalty.

We are pleased to announce that we’ve just closed a $730,000 purchase loan blanketing 2 non-contiguous investment retail stores. Prior to coming to South End Capital, this borrower had difficulty finding a lender that would blanket commercial property and provide competitive terms.

We consolidated over 7 debt and MCA positions for this business, including an 84%, 145% and 165% APR merchant cash advance (MCA). We also provided $73,000 of unrestricted working capital. We delivered a 6.75% APR loan, amortized over 10 years with no prepay penalty. We reduced this borrower’s monthly debt expense by $17,302!

We are pleased to announce that we’ve just closed a $900,000 cash-out refinance of an assisted living facility located in Redwood City, CA.We offer small balance commercial financing nationwide but in CA we can provide special bankable terms on a variety of property types (even special purpose ) up to $10,000,000.

We are pleased to announce that we’ve just funded $423,750 for the purchase of this office property located in Worcester, MA. The borrower couldn’t provide tax returns and needed a 75% LTV. Other stated commercial real estate lenders cap property LTVs at 70%, but we can fund up to 80% LTV and offer lower rates on longer fixed periods.

$432,000 was funded for renovations with the balance for working capital and closing costs. We provided a 6.75% rate amortized over 25 years. This is what our borrowers had to say…

We are thrilled to have helped another non-conforming small business owner (620 credit score in this case) refinance suffocating debt. We consolidated over $550K of debt, including a pricey first mortgage and a 23% term loan. Additionally, we provided working capital and financed all closing costs. This loan was funded at 6.75% and amortized over 25 years.

We are pleased to announce that we’ve just funded $645,000 for the purchase of this investment 3-family residential property located in Jamaica, NY. The borrower couldn’t provide tax returns and needed a 75% LTV, which was not a problem for our flexible Small Balance Commercial program.