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

October 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.

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

August 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.

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

August 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.

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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.

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

July 24, 2018

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).

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

July 17, 2018

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.

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

July 9, 2018

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.

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

June 20, 2018

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.

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

June 13, 2018

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.

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

June 6, 2018

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.

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

May 30, 2018

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.

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South End Capital Closes a $700,000 Stated Income, Retail Strip Mall Cash-Out Refinance Loan in Ohio

May 8, 2018

Proceeds also went to pay off delinquent real estate taxes and address over $190,000 in roof repairs (we only required an $18,000 roof repair hold-back to close). Even though the borrowers had 649 and 671 middle FICO scores, we still funded a stated income 3 year fixed loan, amortized over 30 years with a 10% rate.

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South End Capital Closes a $200,000 Subprime SBA Working Capital Loan for an International Shipping Co.

May 8, 2018

The borrower sought unrestricted working capital at affordable terms which was difficult for an international shipping co. with no real estate collateral. We require no collateral for our subprime SBA loans < $500,000 so this loan was straightforward for us. The borrower received $200,000 of unrestricted working capital at closing at a 7.5% rate, amortized over 10 years and with no prepayment penalty. The borrower also received a loan commitment within 2 weeks of his initial loan application.

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South End Capital Closes a $1,245,000 Stated Income Refinance Cash-Out Loan for a Blue Island, IL Bar & Grill

May 3, 2018

This borrower wanted an easy loan process for his restaurant/bar without the stringent demands of an SBA or bank loan. In 35 days we funded a 75% LTV loan with $330K+ of unrestricted cash-out (no tax returns, financials or 4506T were required) at an 8.75% rate, fixed for 5 years and amortized over 30 years.

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South End Capital Closes a $1,464,000 Consolidation and Expansion Loan for a Louisiana Athletic Club

April 24, 2018

This loan was turned down by multiple SBA, bank and non-conforming lenders before we received it. The primary collateral was an athletic club that consisted of a large amount of excess land for multiple sport courts and a pool. The property and business were very special purpose…

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South End Capital Partners with US News & World Report’s Top Lender for Term Loans

April 19, 2018

To apply for a Business Term Loan starting at 9.99% and receive $5,000 to $500,000 in as little as 24 hours, apply here. Experience an easy, light documentation process with a lender that’s funded $8 Billion to businesses, has an A+ BBB rating and 9.6/10 TrustPilot reviews.

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South End Capital Closes Subprime SBA Loans for an Appliance Co., Mortgage Broker and Real Estate Agency

April 10, 2018

This business owner needed to pay off expensive MCAs and expand. With 650 credit and MCAs on his books, banks and mainstream SBA lenders were not a fit. We paid off his MCAs and provided unrestricted working capital at 8.25%, a 10 year am. and no prepay penalty.

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South End Capital Closes a $600,000 Stated Income 4 Unit Office Refinance Cash-Out in San Jose, CA

April 9, 2018

This borrower wanted a low priced permanent loan without the headache of working with a bank, but had < 700 credit and needed to close in a revocable trust. We funded unrestricted cash-out (required no tax returns, financials or 4506T) at 7.25%, fixed for 5 yrs. and amortized over 30 yrs.. The submitting broker earned $9,000.

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South End Capital Closes a $264,000 Assisted Living Business and Multiple Property Purchase Loan

March 19, 2018

The borrower was only required to put down 10% on the purchase of this assisted living business and its 3 locations in NC. We also provided $30,250 of working capital at closing to assist with the ownership transition. The final rate was 7.25% and was amortized over 25 years.

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South End Capital’s Noah Grayson Interviewed about the Evolving Lending Landscape

March 1, 2018

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.

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South End Capital Introduces Low Cost Bridge Loans with Use of Existing Appraisals

February 20, 2018

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.

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South End Capital Now Funding 80% LTV Stated Income Real Estate Loans

February 20, 2018

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).

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South End Capital’s New ‘No Credit Check’ Business Line of Credit Takes Off

February 20, 2018

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.

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South End Capital Hits $100M Milestone in Subprime SBA Loan Closings

February 12, 2018

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.”

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South End Capital Funds a $412,000 FL Commercial Purchase and Rehab Loan for a First Time Investor

January 30, 2018

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.

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South End Capital to Provide “No Credit Check” Business Line of Credit

January 29, 2018

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.

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Noah Grayson, Managing Director of South End Capital Authors a Feature Article for the Scotsman Guide: Recognize the Warning Signs

January 18, 2018

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.

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South End Capital Now Offers a “No Credit Check” Business Line of Credit up to $100,000

January 10, 2018

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.

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South End Capital has Closed $13,606,608 to Start 2018!

January 8, 2018

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.

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South End Capital to Provide Fast Business Loans with Rates from 5.99%

December 18, 2017

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.”

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