South End Capital a division of Stearns Bank N.A., a nationwide $2.2 billion direct lender and technology-enabled business, real estate, and equipment loan platform, has announced 527 equipment financings totaling approximately $35 million in the month of August.
South End Capital a division of Stearns Bank N.A., a nationwide $2.2 billion direct lender and technology-enabled business, real estate, and equipment loan platform, has announced a $90,402 equipment financing. This financing assisted a Georgia-based dental practice with an expansion opportunity on the heels of the pandemic-induced economic downturn.
South End Capital provided a 1st mortgage commercial real estate “CRE” financing for debt consolidation and working capital. A 25-year term loan at a 6% rate was delivered. Additionally, the nationwide lender provided financing to purchase dental equipment, funded a 90% LTV, and a 60-month term with a 3-month delayed payment start date.
Stearns Bank N.A., a financial institution in Minnesota, has acquired South End Capital Corporation and its digital lending platform to expand financing options and banking services for businesses. Noah Grayson, founder and president, South End Capital, and his team will join Stearns Bank as a specialized Stearns Bank division, accelerating each company’s digital innovation and their shared vision to deliver real estate investors and business owners the premier marketplace for banking services and customized, affordable financing through an advanced online banking platform.
With the looming shade of Covid-19 slowly dissipating and vaccines rolling out, tourism is likely to resume in some capacity in the near future. Real estate investors have the perfect entry point into the hospitality real estate investment market. With so many businesses looking to cash out, it’s easier to acquire real estate investments now than ever before.
One of the most contentious things that a real estate investor can attempt to do is tell the future. We’re not talking about crystal balls and reading palms but predicting the state of a property within the next few years. However, estimation of the rise in property value is directly linked to many factors, ranging from viability in the current locale to the market factors impacting residential and commercial purchases.
Below is a recent interview SuperbCrew conducted with our CEO, Noah Grayson, discussing the benefits of technology in loan origination.
PPP financing has been activated as a program option on all South End Capital Referral Partner referral links. Existing partners can log in to their Partner Portal to access their referral link and view compensation and program guidelines. Those interested in signing up as a South End Capital Referral Partner to offer PPP loans, and other financing options to their clients, can register here.
We are pleased to announce that we were able to provide financing to businesses in industries that were significantly effected by COVID-19, including a restaurant, nail salon, and more.
Small businesses matter – now more than ever. They are answering the call with innovation and determination like never before. We hope you join us in supporting them by sharing their story far and wide and shopping local!
We refinanced the borrower’s 1st mortgage, provided additional renovations funds, and delivered a 5-year fixed, 25-year commercial mortgage at 7.5%. Retail strip-malls in different states were cross-collateralized for this loan.
We refinanced the borrower’s 1st mortgage which was coming due and provided a stated income, 30-year fixed commercial mortgage at 8.99%. The tenants included a church, and we funded the loan in only 26 days.
Building a real estate brokerage can be a rewarding and lucrative opportunity, but it isn’t something to rush into. You’ll want to do your research and carefully consider your options before making any major decisions.
Branching out into real estate investment is an exciting opportunity, and if done thoughtfully, can turn a tidy profit for investors. However, this opportunity also comes with risks that can be financially detrimental.
A new RealEstateBees.com survey of over 2,000 active hard money lenders found that despite the negative impact on their business caused by the COVID-19, more than 80% are seeing new opportunities opened by the pandemic.