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) program, 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
$840,000
Real Estate Purchase
Small Business
Child Day Care Services
25 Year Term
Highland Heights, OH
$3,919,000
Construction
Small Business
Full-Service Restaurants
10 Year Term
Long Beach, CA
$4,070,000
Real Estate Purchase
Small Business
Gasoline Stations with Convenience Stores
25 Year Term
Bremerton, WA
$930,000
Refinance
Small Business
Full-Service Restaurants
10 Year Term
Frisco, TX
$3,919,000
Construction
Small Business
Full-Service Restaurants
10 Year Term
Long Beach, CA
$1,224,000
Real Estate Purchase
Small Business
Funeral Homes and Funeral Services
25 Year Term
Marion, KS
$2,686,000
Real Estate Purchase
Small Business
Funeral Homes and Funeral Services
10 Year Term
Marion, KS
$1,408,000
Refinance
Small Business
Logging Harvester
10 Year Term
Kamiah, ID
CRITERIA

PRODUCT OVERVIEW

  • Closing costs may be financed
  • Equity injection may include seller note or gift funds
  • Working capital may be included
  • Story driven underwriting
  • Low down payment
  • Longer terms
  • More flexibility
  • Fixed rate available for those who qualify
Ready Capital National Bridge Team Closes Over $100 Million in Four States
07/27/2018

NEW YORK – March 21, 2019 – Ready Capital National Bridge Originations Team announces the closing of acquisition, renovation, stabilization and lease-up loans for approximately $100 Million in four states.

The San Antonio, TX loan is for the acquisition, renovation, and stabilization of a 392-unit, Class B, multifamily property located in the Far North Central Submarket of San Antonio, TX. Upon acquisition, the Sponsor will execute capital improvements to unit exteriors and common area amenities. Ready Capital closed the $25.8 MM, nonrecourse, interest only, floating rate loan that features a 36-month term with two extension options, flexible pre-payment, and is inclusive of a facility to provide future funding for capital expenditures.

The Pasadena (Houston MSA), TX loan is for the acquisition, renovation, and stabilization of a 504-unit, Class B, multifamily property located in the Gulf Freeway Submarket of Pasadena, TX (within the Houston MSA). Upon acquisition, the Sponsor will execute capital improvements to unit exteriors and common area amenities. Ready Capital closed the $38.9 MM, nonrecourse, interest only, floating rate loan that features a 36-month term with two extension options, flexible pre-payment, and is inclusive of a facility to provide future funding for capital expenditures.

The Miami, Wynwood, FL loan is for the acquisition, renovation, and lease-up of an approximately 8,000 SF, vacant, shell condition building located in the Wynwood Submarket Miami, FL. The loan will be used to redevelop the building into high street storefronts with a food & beverage indoor/outdoor concept in the rear. Ready Capital closed the $8.0 MM, nonrecourse, interest only, floating rate loan that features a 36-month term with two extension options, flexible pre-payment, and is inclusive of a facility to provide future funding for capital expenditures, tenant leasing costs, and interest & carry reserves.

The Costa Mesa, CA loan is for the acquisition, renovation, and stabilization of an approximately 52,000 SF, Class B, mixed-use retail and office property located in the Eastside Submarket of Costa Mesa, CA. Back Bay Center is strategically located on Irvine Avenue, a primary corridor connecting the desirable neighborhoods of Newport Beach & Eastside Costa Mesa, 2 miles from John Wayne Airport. Ready Capital closed the $20.1 MM, nonrecourse, fixed-rate loan that features an 84-month term with 48-months interest only, flexible pre-payment, and is inclusive of a facility to provide future funding for capital expenditures and tenant leasing costs.

The two Normal & Champaign, IL loans are for the acquisition, renovation and stabilization of a 79-unit, 276-bed student housing portfolio located at The University of Illinois at Urbana-Champaign and Illinois State University.

Upon acquisition, the Sponsor will concentrate on increasing occupancy via extensive remodeling of unit interiors and engaging an institutional property management team. Ready Capital closed the $11.9 MM, nonrecourse, interest only, fixed rate loan that features a 36-month term, flexible pre-payment, and is inclusive of a facility to provide future funding for interior capital expenditures.

For more information, contact:
David A. Cohen, dcohen@readycapital.com
Managing Director – National Bridge Originations

About Ready Capital:
Ready Capital (NYSE: RC) is a multi-strategy real estate finance company that originates, acquires, finances and services small- to medium-sized balance commercial loans. Our National Bridge Originations team offers non-recourse financing on transitional, value-add and event-driven commercial and multifamily real estate opportunities. Ready Capital is a direct lender that provides comprehensive financing solutions to real estate owners, investors and small business owners, which generally range in original principal amounts between $2 – $35 million and portfolios up to $100 million.

This press release contains statements that constitute “forward-looking statements,” as such term is defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and such statements are intended to be covered by the safe harbor provided by the same. These statements are based on management’s current expectations and beliefs 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; the Company can give no assurance that its expectations will be attained. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.

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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