Below are recent subprime SBA loans we provided for borrowers who were turned down by other SBA lenders or didn’t believe they could qualify for SBA financing. All rates were prime + 2.75% (currently 7.5%), the same rates most conforming SBA lenders charge.
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South End Capital Announces Recent Subprime SBA Loan Closings – $710,000 Business Purchase and $627,000 MCA / Debt ConsolidationNovember 6, 2019
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Noah Grayson, President of South End Capital, Interviewed for deBanked’s October Featured Article – Consultative Selling in Small Business FinanceOctober 24, 2019
The problem stems from trying to teach financial responsibility too late in life, says Noah Grayson, president and founder of Norwalk, Conn. -based South End Capital. He advocates introducing young people to finance at the same time they’re learning history, algebra and other standard subjects in school. Read full article... |
South End Capital Announces Significant Program and Process EnhancementsOctober 2, 2019
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. Read full article... |
Noah Grayson Authors Featured Scotsman Guide Article: Avoid the Short-Term TrapSeptember 10, 2019
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. Read full article... |
South End Capital Funds a $525,000 No Tax Return, Non-SBA, Owner-Occupied Office Refinance MortgageAugust 26, 2019
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. Read full article... |
South End Capital Closes a $1,205,000, 167% LTV Loan Secured by a 5 Acre Dog Kennel Located in Rural CAAugust 13, 2019
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. Read full article... |
South End Capital Funds a $435,000 Permanent Mortgage Secured by a Used Auto DealershipJuly 18, 2019
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%. Read full article... |
South End Capital Announces a Selection of Recent Subprime SBA Loan ClosingsJuly 15, 2019
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. Read full article... |
South End Capital Extends its SBA Underwriting Fee Waiver to Include First RespondersJuly 8, 2019
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. Read full article... |
South End Capital Waives its SBA Underwriting Fee for Veterans of the US Armed ServicesJune 26, 2019
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. Read full article... |
South End Capital Funds a $502,500 Warehouse Cash-Out Refinance LoanJune 6, 2019
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%. Read full article... |
LendVer Names South End Capital its 2019 Best Commercial Real Estate LenderJune 3, 2019
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. Read full article... |
South End Capital Closes 2 Subprime SBA Working Capital LoansMay 7, 2019
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. Read full article... |
US Business News Names South End Capital the 2019 Best Non-Conforming Commercial Real Estate LenderApril 30, 2019
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. Read full article... |
South End Capital Funds a $252,000 Warehouse Purchase Permanent Mortgage in 29 DaysApril 24, 2019
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. Read full article... |
South End Capital Celebrates a Decade of Service with 30-Year Fixed Commercial Mortgage RolloutMarch 19, 2019
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…. Read full article... |
South End Capital Announces $6,083,000 in Recent Subprime SBA Business Loan ClosingsMarch 4, 2019
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. Read full article... |
South End Capital Announces New Silver and Gold Referral Partner LevelsFebruary 26, 2019
We’ve introduced the following new SILVER and GOLD level incentives to reward our partners who refer us repeat business… Read full article... |
South End Capital Celebrates 10 Years in Business!February 21, 2019
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! Read full article... |
South End Capital Funds $700,000 and $500,500 Non-Conforming Bar & Restaurant LoansFebruary 13, 2019
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%. Read full article... |
South End Capital’s President, Noah Grayson, Interviewed by Superbcrew.com About the Recent Government ShutdownFebruary 4, 2019
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. Read full article... |
South End Capital Funds Affordable Business Loans During Government ShutdownJanuary 24, 2019
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. Read full article... |
South End Capital’s President, Noah Grayson, Announces 2019 Company UpdatesJanuary 7, 2019
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. Read full article... |
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 DaysDecember 19, 2018
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. Read full article... |
South End Capital is Pleased to present a Selection of our Recent Credit Line and Invoice FinancingsOctober 18, 2018
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. Read full article... |
South End Capital Closes its 200th Loan for 2018 Surpassing the $200 Million Funding MilestoneOctober 15, 2018
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. Read full article... |
South End Capital Announces $7,737,000 of Recent Subprime SBA ClosingsOctober 4, 2018
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. Read full article... |
South End Capital Closes a $170,000 Subprime SBA Debt Consolidation Loan for a GA Dental PracticeAugust 30, 2018
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. Read full article... |
South End Capital Provides a $984,000 2nd Mortgage, Business Debt Consolidation Loan for a Software CompanyAugust 14, 2018
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. Read full article... |
South End Capital Gets it Done Funding Business Purchase Loans for a FedEx Ground Route and a Sports Apparel Co.August 7, 2018
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. Read full article... |