Ready Capital Corporation Surpasses $1 Billion in SBA Loans

Now Second-Largest Non-Financial institution Lender in US

Printed: Oct. 14, 2021 at 2:15 PM MDT|Up to date: 43 minutes in the past

NEW YORK, Oct. 14, 2021 /PRNewswire/ — Prepared Capital Company (NYSE: RC) (“Prepared Capital” or the “Firm”) in the present day introduced that the Firm has surpassed $1 billion in SBA 7(a) Loans because it started issuing these loans underneath this authorities sponsored program. Prepared Capital has grown to turn out to be the second-largest non-bank SBA lender in america.

12 months-to-date (via September 30, 2021) highlights embrace:

  • Ranked #2 by way of greenback quantity of mortgage approvals and variety of loans closed amongst non-bank SBA lenders
  • Ranked #6 by way of greenback quantity of mortgage approvals amongst all SBA lenders
  • Ranked within the high 1% of SBA lenders by variety of loans closed
  • Closed 489 loans with an approval quantity of over $616 million

“We’re proud to hit these milestones and have our focus firmly on changing into the most important non-bank lender inside the subsequent three years,” mentioned John Moshier, President of Prepared Capital’s Small Enterprise Lending division. “These outcomes underscore our dedication to the small enterprise neighborhood, which we goal to spotlight via our sponsorship of Navy Makeover and SBA Roadshow, communications channels that present SBA lending at its greatest.”

About Ready Capital Corporation 
Prepared Capital Company (NYSE: RC) is a multi-strategy actual property finance firm that originates, acquires, funds and companies small to medium stability industrial loans. Prepared Capital focuses on loans backed by industrial actual property, together with company multifamily, investor and bridge in addition to SBA 7(a) enterprise loans. Headquartered in New York, New York, Prepared Capital employs over 500 lending professionals nationwide. The corporate is externally managed and suggested by Waterfall Asset Administration, LLC.

Matt Yemma
Peaks Methods

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SOURCE Prepared Capital Company

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