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:

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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
$751,000
Real Estate Purchase
Small Business
Home Furnishings Store
25 years Year Term
Palm Desert, CA
$465,000

Small Business
Couriers and Express Delivery Services
10 years Year Term
Oran, MO
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
Ready Capital Structured Finance Closes Non-Recourse Loans for approximately $60 Million in California, Colorado, Virginia, North Carolina and Texas
07/27/2018

NEW YORK – May 24, 2018 – Ready Capital Structured Finance, a nationwide commercial real estate bridge and mezzanine lender, announces the closing of non-recourse loans in California, Colorado, Virginia, North Carolina and Texas totaling approximately $60 million.

The Toluca Lake, California loan is for the acquisition, renovation, and stabilization of an approximately 75,000 square foot, 67 percent occupied, Class B, office property. The property is located within the Studio / Universal Cities submarket, within a half mile of Highways 101, 134 and major arterial roads such as Cahuenga and Lankershim Boulevard and 0.35 miles from the Universal City / Studio City Metrolink station which provides easy access to Hollywood and Downtown Los Angeles. In addition, the property is located within close proximity to NBC Universal. Ready Capital Structured Finance closed the $23.2 million non-recourse floating rate loan that features a 36-month term, flexible pre-payment, and is inclusive of a facility to provide future funding for capital improvements to the building, and fund interest shortfalls during the renovation and lease up.

The Del Mar, California loan is for the acquisition, renovation, and stabilization of an approximately 40,000 square foot, Class B, office property. The property is located on Jimmy Durante Boulevard in coastal Del Mar between the Del Mar Heights office corridor and the Coast Beach Cities of North County. The Property is within 0.5 miles of the ocean, 0.5 miles from downtown Del Mar, 0.25 miles from the Del Mar Fairgrounds, and offers convenient access to all of San Diego via the Interstate 5 Freeway. Ready Capital Structured Finance closed the $16.7 million non-recourse floating rate loan that features a 36-month term, flexible pre-payment, and is inclusive of a facility to provide future funding for capital improvements to the building, leasing costs, and interest shortfalls during the renovation and lease up.

The Denver, Colorado loan is for the acquisition, renovation, re-flagging, and stabilization of a 92-key hotel located at 7380 South Clinton Street, in the Inverness submarket. The four-story property is currently operating as a Holiday Inn Express, but the Sponsor has secured a new franchise agreement with InterContinental Hotels Group (IHG) to reflag the property to an improved EVEN Hotel. Ready Capital Structured Finance closed the $9.9 million, non-recourse, interest-only, floating rate loan that features a 36-month term with one extension option, flexible pre-payment, and is inclusive of a facility to provide future funding for the property improvement plan, working capital and interest shortfalls during renovation and stabilization.

The Richmond, Virginia loan is for the acquisition, renovation, and stabilization of an approximately 40,000 square foot medical office property at 7301 Forest Avenue, located in the Glenside submarket. The single-story property is being purchased with below market occupancy and rents, with a business plan to increase rents and lease the property to market levels post-renovation. Ready Capital Structured Finance closed the $5.6 million, non-recourse, interest-only, floating rate loan that features a 36-month term with two extension options, 24 months minimum interest, and is inclusive of a facility to provide future funding for capital improvements, leasing costs, and interest shortfalls during the renovation and lease up.

The Mebane, North Carolina loan is for the acquisition and stabilization of a 478-unit, Class B self-storage property, centrally located between Burlington and Durham, North Carolina. The property is a newly delivered climate controlled facility that is in the lease up phase. Ready Capital Structured Finance closed the $4.1 million non-recourse floating rate loan that features a 24-month term, flexible pre-payment, and is inclusive of a facility to fund interest shortfalls during the lease up.

The Missouri City, Texas loan is for the acquisition, expansion, and stabilization of a currently occupied 434-unit Phase I, Class A, self-storage property and a to-be-built additional 541-unit Phase II on an adjacent parcel. Ready Capital Structured Finance closed the non-recourse fixed rate loan that features a 60-month term, flexible pre-payment, and is inclusive of a facility to provide future funding for the construction of the Phase II building, and fund interest shortfalls during the construction and lease up.

For more information, contact Managing Director, David A. Cohen, at dcohen@rclending.com.

About Ready Capital Structured Finance
Ready Capital Structured Finance (RCSF) is a nationwide commercial real estate bridge and mezzanine lender offering non-recourse financing on transitional, value-add and event-driven commercial and multifamily real estate opportunities. RCSF 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 – $50 million and portfolios greater than $50 million. RCSF is a division of a subsidiary of Sutherland Asset Management Corporation (NYSE “SLD”), a full-service real estate finance company externally managed by Waterfall Asset Management , LLC.

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

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