Small Business

OVERVIEW

Ready Capital, through its subsidiary Readycap Lending, LLC, is an approved non-bank, U.S. Small Business Administration (SBA) Preferred Lender that provides financing under the SBA 7(a) and 504 loan programs, offering secured and unsecured financing nationwide to small business owners.

We provide loans from $350,000 to $5 million, with a track record of successfully navigating the SBA loan process and delivering competitive lending solutions for growing businesses.

We offer entrepreneurs, professionals and business owners the ability to take advantage of flexible terms and competitive loan rates to fund a range of business needs – from start-ups to business acquisitions, real estate, equipment, working capital and more.

Our SBA 7(a) small business loans offer longer terms, lower down payments and more flexibility than other types of business financing, to improve cash flow as you expand or start your business.

Check out our most recent transactions & client testimonials:

$1,975,000
Real Estate Purchase
Small Business
Offices of Podiatrists
25 Year Term
Lewisville, TX
$1,750,000
Real Estate Purchase
Small Business
Tire Dealers
25 Year Term
Reno, NV
$4,080,000
Real Estate Purchase
Small Business
Hotels (except Casino Hotels) and Motels
25 Year Term
Salem, OR
$3,465,000
Business Acquisition
Small Business
Golf Courses and Country Clubs
25 Year Term
Franklin, TN
$425,000
Take- Out Construction
Small Business
Snack and Nonalcoholic Beverage Bars
10 Year Term
Baton Rouge, LA
$1,155,000
Refinance
Small Business
Gasoline Stations with Convenience Stores
25 Year Term
East Dundee, IL
$420,000
Building Improvements
Small Business
Hotels (except Casino Hotels) and Motels
25 Year Term
Shreveport, LA
$4,015,000
Real Estate Purchase
Small Business
Hotels (except Casino Hotels) and Motels
25 Year Term
Shreveport, LA
$350,000
Equipment Purchase
Small Business
Commercial Printing
10 Year Term
Fountain Valley, CA
$900,000
Refinance
Small Business
Elementary and Secondary Schools
25 Year Term
Carlsbad, CA
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$4,510,000
Real Estate Purchase
Small Business
Flagged Hotel
25 Year Term
Ontario, OR

“I found the process to be extremely efficient and smooth. Every contact I dealt with at each new stage of the process was highly professional, experienced, quick and informative in their responses, and gracious in their guidance. Our dream of becoming arts entrepreneurs would not have come to fruition this soon without the tremendous efforts of everyone at Ready Capital. We are endlessly grateful.”

- Ian
$585,000
Business Acquisition
Small Business
Store Retailers
10 Year Term
Salt Lake City, UT
$733,000
Working Capital
Small Business
Tire and Tube Merchant Wholesalers
10 Year Term
Colorado Springs, CO
$1,150,000
Take-out Construction
Small Business
Caterers
10 Year Term
Torrance, CA

“Making a decision to expand my business was a difficult decision. Identifying a lender to provide funding was easy. Ready Capital’s team had the necessary experience and expertise needed to complete my loan process in a timely and professional manner. From the initial phone call through fund distribution, their team was active in ensuring the process was fully explained and understood.”

- Greg
$1,204,000
Refinance
Small Business
Food Manufacturing
25 Year Term
West Columbia, SC
$1,825,000
Real Estate Purchase
Small Business
Hotels (except Casino Hotels) and Motels
25 Year Term
Horseheads, NY
$1,412,000
Building Improvements
Small Business
Fitness and Recreational Sports Centers
25 Year Term
Phoenix, AZ
$2,680,000
Real Estate Purchase
Small Business
Sporting Goods Stores
25 Year Term
Wilmington, CA
$572,000
Refinance
Small Business
Liquor Store
25 Year Term
Branford, CT
$1,190,500
Real Estate Purchase
Small Business
Machine Shops
25 Year Term
Mulberry, FL
$1,184,000
Real Estate Purchase
Small Business
Gasoline Stations with Convenience Stores
25 Year Term
Puyallup, WA
$370,000
Real Estate Purchase
Small Business
Gasoline Stations with Convenience Stores
25 Year Term
Syracuse, NY
CRITERIA

Ready Capital provides competitive programs to meet a wide range of borrower needs. Contact one of our loan professionals for more information.

Small Business
Use of Proceeds Purchase: real estate, equipment, leaseholds
Refinance: real estate, equipment, debt consolidation
Business Acquisition: purchase existing business, partner buyout
Start Up Business: franchise, professional, expansion
Loan Size $350,000-$5,000,000
Equity Injection Requirements 0% to 20%
Loan Term Up to 25 years fully amortized
Debt Service Coverage 1.15x to 1.30x depending on use of proceeds & industry
Advance Rate Up to 100% financing depending on use of proceeds & industry
Prepayment Real Estate: 3 year (5%, 3%, 1%)
Non-Real Estate: none
Features of All Loan Types Closing cost may be financed
Equity may include seller note or gifted funds
Working capital may be included
Competitive interest rates
CONTACT

Contact a Production Officer or a member of our production team for more information for your area or market. All of our Production Officers have the ability to lend nationwide. If you need further information, please contact smallbusiness@readycapital.com.

PRODUCTION TEAM
Ready Capital Corporation Announces Resignation of Chief Operating Officer, Carole Mortensen
07/27/2018

Ready Capital Corporation Announces Resignation of Chief Operating Officer, Carole Mortensen

Company Release – 2/12/2019 8:00 AM ET

NEW YORK, Feb. 12, 2019 /PRNewswire/ — Ready Capital Corporation (NYSE: RC) (“Ready Capital” or the “Company”) today announced that Carole Mortensen, Chief Operating Officer has resigned from the Company, effective February 11, 2019. Ms. Mortensen has resigned from her position to pursue other opportunities and has committed to ensure a seamless transition of her responsibilities. Ms. Mortensen’s primary responsibilities will be assumed by Chief Financial Officer Rick Herbst on an interim basis. The Company will be initiating a search process to identify candidates to succeed Ms. Mortensen as Chief Operating Officer.

“Carole has made significant contributions to Ready Capital, earning wide respect across the organization for her efforts to advance our strategy,” stated Ready Capital Chairman and Chief Executive Officer Thomas Capasse. “We thank Carole for her service and wish her well in her future endeavors.”

Ms. Mortensen was a Managing Director of Ready Capital’s external manager, Waterfall Asset Management, LLC, since 2011 before being appointed Chief Operating Officer in June 2017.

Forward-Looking Statements

This press release contains statements that constitute “forward-looking statements,” as such term is defined in Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 and such statements are intended to be covered by the safe harbor provided by the same. These statements are based on current expectations and beliefs of the Company and Owens Realty Mortgage, Inc. (NYSEAM:ORM) (“ORM”) and are subject to a number of trends and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements; neither the Company nor ORM can give any assurance that its expectations will be attained.

Factors that could cause actual results to differ materially from expectations include, but are not limited to, the risk that the merger will not be consummated within the expected time period or at all; the occurrence of any event, change or other circumstances that could give rise to the termination of the merger agreement; the inability to obtain stockholder approvals relating to the merger and issuance of shares in connection therewith or the failure to satisfy the other conditions to completion of the merger; fluctuations in the adjusted book value per share of the shares of both the Company and ORM; risks related to disruption of management’s attention from the ongoing business operations due to the proposed merger; the effect of the announcement of the proposed merger on the Company’s and ORM’s operating results and businesses generally; the outcome of any legal proceedings relating to the merger; changes in future loan acquisition and production; the ability to retain or hire key personnel; availability of suitable investment opportunities; changes in interest rates; changes in the yield curve; changes in prepayment rates; the availability and terms of financing; general economic conditions; market conditions; conditions in the market for small balance commercial loans and other investments; and other factors, including those set forth in the Risk Factors section of the Company’s Registration Statement on Form S-4 and other reports filed by the Company and ORM with the SEC, copies of which are available on the SEC’s website, www.sec.gov. Neither the Company nor ORM undertakes any obligation to update these statements for revisions or changes after the date of this press release, except as required by law.

Additional Information and Where to Find It

This press release may be deemed to be solicitation material in respect of the proposed merger of the Company and ORM.  In connection with the proposed merger, the Company has filed a Registration Statement on Form S-4, which includes a preliminary joint proxy statement/prospectus. The Company’s stockholders and other interested persons are advised to read the preliminary joint proxy statement/prospectus and, when available, the amendments thereto and the definitive joint proxy statement/prospectus and documents incorporated by reference therein filed in connection with the proposed merger, as these materials will contain important information about the Company, ORM and the proposed merger. When available, the definitive joint proxy statement/prospectus and other relevant materials for the proposed merger will be mailed to stockholders of the Company as of the record date. Stockholders will also be able to obtain copies of the preliminary joint proxy statement/prospectus, the definitive joint proxy statement/prospectus and other documents filed with the SEC that will be incorporated by reference therein, without charge, once available, at the SEC’s web site at www.sec.gov, or on the Company’s website at https://readycapital.com/ or by directing a request to the Company’s Investor Relations at InvestorRelations@readycapital.com or at (212) 257-4666.

Participants in Solicitation

The Company, its directors, executive officers and certain employees may be deemed to be participants in the solicitation of proxies in respect of the proposed merger. Information regarding the Company’s directors and executive officers is available in its proxy statement filed with the SEC. Additional information regarding these persons and their interests in the proposed merger is included in the joint proxy statement/prospectus relating to the proposed merger that has been filed with the SEC. These documents can be obtained free of charge from the sources indicated above.

ORM and its directors and executive officers may also be deemed to be participants in the solicitation of proxies from the stockholders of the Company in connection with the proposed merger. A list of the names of such directors and executive officers and information regarding their interests in the proposed merger are included in the joint proxy statement/prospectus for the proposed merger.

About Owens Realty Mortgage, Inc.

Owens Realty Mortgage, Inc., a Maryland corporation, is a specialty finance mortgage company organized to qualify as a real estate investment trust that focuses on the origination, investment, and management of commercial real estate mortgage loans. ORM provides customized, short-term acquisition and transition capital to small balance and middle-market investors that require speed and flexibility. ORM’s primary objective is to provide investors with attractive current income and long-term shareholder value. Owens Realty Mortgage, Inc. is headquartered in Walnut Creek, California, and is externally managed and advised by Owens Financial Group, Inc. 

About Ready Capital Corporation

Ready Capital Corporation (NYSE: RC) is a multi-strategy real estate finance company that originates, acquires, finances and services small- to medium-sized balance commercial loans. Ready Capital specializes in loans backed by commercial real estate, including agency multifamily, investor and bridge as well as SBA 7(a) business loans. Headquartered in New York, New York, Ready Capital employs over 400 lending professionals nationwide. The company is externally managed and advised by Waterfall Asset Management, LLC.

No Offer or Solicitation

This press release shall not constitute a solicitation of a proxy, consent or authorization with respect to any securities or in respect of the proposed merger. This press release shall also not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any states or jurisdictions in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offering of securities shall be made except by means of a prospectus meeting the requirements of section 10 of the Securities Act of 1933, as amended, or an exemption therefrom.

Contact

Investor Relations
Ready Capital Corporation
212-257-4666
InvestorRelations@readycapital.com

Cision View original content:http://www.prnewswire.com/news-releases/ready-capital-corporation-announces-resignation-of-chief-operating-officer-carole-mortensen-300793589.html

SOURCE Ready Capital Corporation

CAREERS

Interested in working with one of the fastest growing commercial mortgage REIT’s in the industry?

Ready Capital is always looking to add experienced and driven professionals to expand and grow with our company. We are continually searching for experienced professionals within the industry by offering a work environment thriving on collaboration and a corporate culture of employees who are passionate and excited about what they do.

Find out what job positions are open in your area.

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