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
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.

Small Business Development Officers:
Small Business Affinity Team:
Small Business Specialty Finance Team:
Small Business Pacific Northwest Team:
Ready Capital National Bridge Team Closes Over $100 Million in Four States
07/27/2018

NEW YORK, May 28, 2019 (GLOBE NEWSWIRE) — Ready Capital National Bridge Originations Team announces the closing of acquisition, mixed-use acquisition, renovation, refinance, redevelopment, stabilization and lease-up loans for approximately $110 Million in five states.

The Houston, TX loans for the acquisition, renovation, and stabilization of two Class A, multifamily properties located in the Spring Branch Submarket of Houston, TX. Upon acquisition, the Sponsor will focus on managing occupancy and increasing top-line revenue by implementing expense recovery and market standard fees at each property. Ready Capital closed the $7.5MM two nonrecourse, interest only, floating rate loans that feature 36-month terms, extension options, flexible pre-payment, and are inclusive of facilities to provide future funding for light capital expenditures.

The Los Angeles, CA loan for the acquisition, renovation, and stabilization of an approximately 40,000 SF (as-complete), eight-property portfolio located in the Frogtown Submarket of Los Angeles, CA. Upon acquisition, the Sponsor will convert each property to a creative office/retail space while renovating existing multifamily units. Ready Capital closed the $16.2 MM, nonrecourse, interest only, floating rate loan that features a 36-month term, two extension options, flexible pre-payment, and is inclusive of a facility to provide future funding for capital expenditures, leasing costs, and interest and operating reserves.

The West Valley City, UT loan for the acquisition, renovation, and lease-up of a 90-unit, multifamily property located in West Valley City, UT (Salt Lake City MSA). The property is currently 100% occupied and composed of all two-bedroom units. The loan will be used to provide interior unit upgrades, exterior cosmetic improvements, and installation of community amenities. Ready Capital closed the $10.2 MM, nonrecourse, part fixed / part floating rate loan that features a 60-month term, flexible pre-payment, and is inclusive of a facility to provide future funding for capital expenditures and working capital reserves.

The Jacksonville, FL loan for the refinance, renovation, and lease up of an approximately 260,000 SF, Class B, grocery-anchored retail property located in the Northeast Jacksonville Submarket of Jacksonville, FL. This loan is a refinancing of an existing Ready Capital Bridge Loan, which closed in July 2016. Ready Capital closed the $26.0 MM, nonrecourse, part fixed / part floating rate loan that features a 60-month term flexible pre-payment, and is inclusive of a facility to provide future funding for capital expenditures, tenant leasing costs, and an earn-out upon achieving performance thresholds.

The Los Angeles, CA loan for the acquisition, renovation, and stabilization of a 16-unit multifamily property located in the East Hollywood Submarket of Los Angeles, CA. Upon acquisition, the Sponsor will improve common areas, upgrade unit interiors, and lease-up the property at market rental rates. Ready Capital closed the $4.7 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, and interest and operating reserves.

The Santa Monica, CA loan for the refinance, renovation, and stabilization of an approximately 9,000 SF (12,000 SF as-complete), vacant mixed-use property located in Santa Monica, CA. The Sponsor is in the process of converting the building into a high-end, multi-tenant retail development. Ready Capital closed the $13.9 MM, nonrecourse, interest only, floating rate loan that features a 36-month term, two extension options, flexible pre-payment, and is inclusive of a facility to provide future funding for capital expenditures, leasing costs, and interest and operating reserves.

The Charlotte, NC loan for the refinance, redevelopment, and stabilization of an industrial flex property located in the North End/NoDa neighborhood of Charlotte, NC. Upon closing, the Property will be vacant, properly zoned, and fully permitted. The Sponsor plans to convert the approximately 180,000 SF industrial flex property into two buildings totaling 124,000 SF with additional parking, leased to creative office and retail tenants. Ready Capital closed the $23.0 MM, nonrecourse, floating rate loan that features a 48-month term, one extension option, 36-months of interest only, flexible pre-payment, and is inclusive of a facility to provide future funding for capital expenditures, working capital, tenant leasing costs, and interest and operating reserves.

The Sacramento, CA loan for the acquisition, renovation, and stabilization of an approximately 65,000 SF, Class B, shopping center located in the Orangeville/Citrus Heights Submarket of Sacramento, CA. Upon acquisition, the Sponsor simultaneously executed a lease to fill the final vacant suite and achieve 100% occupancy. Ready Capital closed the $6.2 MM, nonrecourse, interest only, fixed rate loan that features a 24-month term, flexible prepay, and is inclusive of a facility to provide future funding for capital expenditures and leasing costs.

For more information, contact:
David A. Cohen, david.cohen@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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