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New Lenders Enter Property Market and Think Small" - The Wall Street Journal

A new group of lenders has begun to target properties valued at $10 million and less, and that is good news for mom and pop landlords and small-business owners.

Lenders, including ones controlled by asset managers Waterfall Asset Management, Guggenheim Partners LLC and Sabal Financial Group LLC, have launched new programs this year focusing on loans to smaller properties. Many banks and other lenders have been avoiding smaller deals since the financial crisis because they can be riskier than larger properties, and the underwriting costs are high relative to their size.

Wednesday, July 23, 2014

ReadyCap Lending Subsidiary of the Sutherland REIT, Acquires SBA Ownership License and Loans from CIT Small Business Lending

New York, NY (July 17, 2014) -- ReadyCap Lending LLC (“RCL”), a wholly owned subsidiary of ReadyCap Commercial, LLC (“ReadyCap”), a national direct lender of small balance commercial real estate loans, has acquired the SBA guaranteed loan related assets of CIT Group Inc. These assets include an SBA license, one of the 14 non-bank licenses previously authorized by the U.S. Small Business Administration (“SBA”), and all SBA 7(a) loans. ReadyCap is a subsidiary of Sutherland Asset Management Corporation (“SAM”), a privately held REIT.

Thursday, July 17, 2014

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