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

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.

Programs

FAST CAPITAL
CREDIT LINE
BUSINESS
EQUIPMENT
CREDIT BUILDER
Fast Capital

FAST CAPITAL

We offer multiple financing options for businesses including Term Loans, SBA Loans, Advances, Credit Lines, and more! We can even consider borrowers turned down by other lenders due to low credit or other financing barriers.

Funds can be used for most business purposes such as to buy equipment or inventory, for working capital, or to consolidate debt or merchant cash advances.

PREQUALIFY
  • $1,000 to $500,000+
  • No Min. Credit Score
  • Competitive Financing Rates
  • No Collateral Required
  • Streamlined Underwriting
  • No Min. Revenue Required
  • No Min. Time in Business
  • Most Business Types Eligible
  • Nationwide Financing
  • Same-Day Funding Available
Credit Line

CREDIT LINE

Are you seeking flexible access to capital, where you pay only for the funds you need? A revolving business line of credit operates like a credit card, usually offering a higher credit limit and lower interest rate, and you pay interest and fees solely on the funds you utilize.

You can pay off your balance at any time without incurring penalties and repeatedly draw funds for expansion, emergencies, or any unforeseen business expenses—all through a convenient online portal.

PREQUALIFY
  • $1,000 to $500,000+
  • Low Interest Rates
  • No Min. Credit Score
  • Up to 36-Month Terms
  • Streamlined Underwriting
  • 6+ Months Time in Business
  • No Collateral Required
  • Most Business Types Eligible
  • Nationwide Financing
  • Same-Day Funding Available
Buisiness

BUSINESS

Business owners can access flexible Conventional Loans or preferred SBA Financing for a variety of business purposes such as to purchase or construct commercial real estate, buy or start a business, for large amounts of working capital, to open a new location, or to consolidate debt or merchant cash advances.

We can even consider borrowers turned down by other lenders due to credit issues, limited collateral, or other financing barriers.

PREQUALIFY
  • $250,000 to $15 Million
  • Nationwide Financing
  • 650 Credit Score Min.
  • Competitive Interest Rates
  • Monthly Loan Payments
  • 5- to 25-Year Loan Terms
  • Flexible Underwriting
  • Most Businesses Eligible 
  • No Prepay Penalty Options
  • Expedited Funding Available
Equipment

EQUIPMENT

We are one of the nation’s top equipment lenders and our customized term and payment options match your business’s cash-flow cycle. Our innovative loan portal and live personal support enable us to issue financing approvals in hours, and fund in less than a day.

Most equipment and businesses are eligible, and you can count on the most competitive terms and a tailored equipment financing structure that works for you.

PREQUALIFY
  • $5,000 to $5 Million
  • Custom Payment Options
  • Competitive Pricing
  • Up to 10-Year Terms
  • Dealer & Private Party Sales
  • Nationwide Financing
  • 0% Down on Purchases
  • Startup Terms Available
  • Same-Day Funding Available
  • NEW and USED Equipment
Credit Builder

CREDIT BUILDER

Even if you have no or low credit, you may still be eligible to prequalify for financing without impacting your credit through our flexible programs. If financing eligibility remains a challenge, our advisors can assist you in selecting from various Credit Builder products, such as the Credit Builder Loan, Credit Builder Card, Bill and Rent Reporting, and Credit Repair.

With ongoing credit score monitoring, you’ll receive notifications about score improvements and when you’ve re-qualified for better financing terms.

PREQUALIFY
  • Free Consultation
  • Affordable Plan Options
  • Create On-Time Pay History
  • Same-Day Solutions
  • 65 Point Avg. Score Increase
  • Remove Incorrect Credit Info
  • Industry-Leading Providers
  • Save on Future Payments
  • Tailored Program Options
  • Personal & Business Credit

Closings

FAQs

Listed here are the most commonly asked questions about who we are and how we operate. If you have a question that is not found here, please do not hesitate to contact us and we will be happy to address it.

Is SEC a lender or a broker?

SEC is a division of Stearns Bank, NA, a $3.1 billion national financial institution. As such, SEC is an approved direct commercial real estate lender, investment residential lender, business lender, SBA lender, USDA lender, and equipment financing lender. SEC also administers a cutting-edge, technology-based intermediary loan marketplace that facilitates the placement of loans SEC cannot fund in-house, through a strategic network of lending partners. SEC lends in all 50 States plus Washington, DC.

What documents are required to close a loan with SEC?

The documentation required will vary depending on the financing type.

Equipment Financing less than $150K (and up to $350K in some cases) requires only:

▶ A completed verbal or 1-page application for approval, and a few basic items to fund (this is why we can fund in as little as 82 minutes!)

SBA, Business, and Real Estate Financing may require additional documentation such as a personal financial statement, bank statements, financials and/or tax returns.

Documentation requirements for the participating lenders in our marketplace will vary by lender and transaction type. We only partner with the most technology-efficient lenders that have a track-record of performance. Many marketplace loans can fund with basic documentation in as fast as a few hours.

How do I signup as a Referral Partner with SEC?

If you are a lender, mortgage / loan broker, ISO, CPA, media company, finance / real estate professional, or entrepreneur looking to leverage our real estate and business loan programs to increase your revenue, then click here to register and be reviewed for approval as a Referral Partner (there is no cost to register and it only takes about a minute). Once approved you will be eligible to receive competitive referral fees on funded loans you referred to us, and view the status of your referral pipeline 24/7 in our comprehensive partner portal.

I’m a borrower, broker or lender—why should I work with SEC?

If you are a borrower looking for financing in this market, you know the process can be difficult and confusing. SEC is an experienced lender, founded in 2009, with a focus on customer service, transparency and ethical practices. We have always concentrated on providing non-conforming borrowers the most competitive and affordable loan options, and we have built a reputation as a market leader doing just that (Google us!).

If you are a broker or lender, then you know loan fallout is a costly issue that can be resolved and monetized by the right strategic partner. The loan programs SEC offers are genuine, and they perform. We utilize the latest technology to offer our partners the opportunity to convert their leads and fallout into significant revenue. We operate as your back-office so that you can focus your effort on what’s most important to you. We offer competitive referral fees, volume incentives, and additional benefits such as co-branded loan referral links and referral tracking. Once approved you’ll receive access to our innovative partner portal where you can view the status of your referral pipeline 24/7 and manage your account.

Does SEC charge upfront fees?

No. SEC charges no upfront or application fees. After a borrower signs and accepts a term sheet, he/she will be responsible for the payment of any required due diligence fees (if applicable), such as an appraisal or environmental report fee.

Does SEC charge loan points and/or fees at closing?

SEC charges standard origination and closing fees. Because we are a division of a bank, our fees tend to be lower than our competitors. We are happy to provide a fee estimate upon request so there are no surprises.

How long does it take to close a loan with SEC?

Closing time depends on the financing type, but we prioritize speed throughout the loan process. Equipment and marketplace business financing can be approved and funded in less than a day. Real estate, SBA, and USDA loan approval can occur in a matter of days (after receipt of a completed loan application), with the entire funding process taking approximately 45 to 90 days.

Does SEC offer loan programs outside of the United States?

We offer loan programs in all 50 states plus Washington, DC. We do not offer any loan programs in any other countries.

What collateral will SEC lend against?

Only commercial real estate, 1 to 4 unit non-owner occupied residential properties held (or to be acquired) for investment purposes, businesses and hard business assets (i.e., equipment, machinery, etc.) are eligible for financing under our programs. SEC can also provide business financing without any collateral in a number of cases. We do not offer financing on owner-occupied residential properties, securities or any other types of collateral.

Are Referral Partners, loan brokers, or third parties ever considered representatives, agents or employees of SEC?

No. SEC approved Referral Partners are only authorized to refer SEC eligible borrowers for potential financing. SEC approved Referral Partners are independent, third-party individuals and/or companies, are not subsidiaries, agents, or employees of SEC, are not authorized to make representations, or conduct business on SEC’s behalf, nor commit SEC to any obligation. Any third-party found to be making a claim of legal affiliation with SEC, a representation or commitment on behalf of SEC, or requesting funds on behalf of SEC, will be viewed as having committed fraud and be prosecuted to the fullest extent of the law. If you feel you have encountered an individual or entity committing such fraud, falsely issuing documentation on behalf of SEC, or attempting to collect funds on behalf of SEC, please contact us immediately at fraudprevention@stearnsbank.com.

Contact

Leadership

Noah Grayson
President, Founder
LinkedIn

Matthew Naughton
VP, Sales Director
Contact

Myron Alford
VP, Operations Manager
Contact

Bill Schmidt
Finance Manager
Contact

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Contact Us

southend@stearnsbank.com

(320) 202 – 6106
4140 Thielman Lane
St. Cloud, MN 56301