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 over $45 Million in Pennsylvania, Florida, California, Michigan and Texas
07/27/2018

NEW YORK – April 30, 2018 – Ready Capital Structured Finance, a nationwide commercial real estate bridge and mezzanine lender, announces the closing of non-recourse loans in Pennsylvania, Florida, California, Michigan and Texas totaling over $45 million. The Philadelphia, Pennsylvania loan is for the refinancing of existing construction loans with additional proceeds for the completion, lease-up, and stabilization of a three-property multifamily portfolio consisting of 120 units at 1522-1534 West Girard Avenue, located in the Fairmount and University City submarkets. Ready Capital Structured Finance closed the $17.84 million non-recourse interest-only loan that features a 24-month term with two extension options, flexible pre-payment, and is inclusive of a facility to provide future funding to complete the construction, working capital, and interest reserves.

The Orlando, Florida loan is for the acquisition, renovation and stabilization of 101-keys of a 123-key, limited-service, condominium hotel property at 8200 Palm Parkway, located in the Lake Buena Vista submarket. The four-story property is located nearby both Disney World and Universal Studios and provides complimentary shuttle service to both locations. Ready Capital Structured Finance closed the $7.84 million non-recourse interest-only 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 the hotel’s PIP and to fund the purchase of additional hotel room units.

The Los Angeles, California loan is for the acquisition, renovation and stabilization of a 27,925 square foot, 47-unit, Class-B multifamily property at 608 South Westlake Avenue, located in the Westlake submarket. The four-story property is located between Downtown Los Angeles and Koreatown, and is near the Westlake/MacArthur Park Metro Station which provides access to the Red and Purple lines. Ready Capital Structured Finance closed the $7.06 million non-recourse interest-only 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 capital expenditures, working capital, and interest reserves.

The Miami, Florida loan is for the acquisition, renovation and stabilization of two Class-B retail strip centers consisting of 32,142 square feet. The properties are located at 8200 Northeast 2 nd Avenue & 201 Northeast 82 nd Street, in the Little River submarket. The one-story properties are near the Miami Shores, Hialeah and Little Haiti neighborhoods and can be easily reached by Metrobus, Miami Metrorail, and I-95. Ready Capital Structured Finance closed the $6.37 million non-recourse interest-only 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, working capital, leasing costs, and interest and carry reserves.

The Belleview, Michigan loan is for the acquisition, renovation and stabilization of a 124,584 square foot property at 41965 Ecorse Road, located in the Airport District submarket of Detroit. The single-story property is being purchased vacant and will be leased at market rents. Ready Capital Structured Finance closed the $5.83 million non-recourse interest-only loan that features a 24-month term with one extension option, flexible pre-payment, and is inclusive of a facility to provide future funding for working capital, leasing costs, interest and carry reserves, and an earnout.

The Dallas, Texas loan acquisition, renovation and stabilization of a 241,231 square foot property at 7301 Ambassador Row, located in the Stemmons Freeway submarket. The single-story property is located near I-35 and is within five miles of the Design District and Dallas Love Field Airport and 10 miles of DFW International Airport. Ready Capital Structured Finance closed the non-recourse interest-only loan that features a 48-month term with one extension option, flexible pre-payment, and is inclusive of a facility to provide future funding for capital improvements, working capital, leasing costs, interest and operating expense reserves.

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

About Ready Capital Structured Finance
Ready Capital Structured Finance, headquartered in New York City, 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. Led by a veteran team of industry professionals, Ready Capital Structured Finance 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. Sutherland, a commercial mortgage REIT, is a real estate finance company that acquires, originates, manages and finances commercial real estate loans and real estate-related securities.

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.

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