The expanded facility fortifies the company's prefunding capabilities and the continued growth of its online crowdfunding platform.
Los Angeles, California, June 14, 2017 (Newswire.com) - Patch of Land, a leader in the online real estate lending marketplace using a technology-rich crowdfunding platform, has expanded its senior warehouse debt facility with SF Capital from $10 million to $30 million. SF Capital, a private investment firm with a flexible, long-term investment focus, began its lending relationship with Patch of Land in 2015.
The expanded debt facility provides Patch of Land greater flexibility in funding loans to support the company’s growing mortgage loan origination volume. It also complements the company’s robust crowdfunding network and enables Patch of Land to expand its pre-funding efforts to continue to meet the unique lending needs of real estate investors. The move is part of company initiatives designed to improve the borrowing experience for real estate entrepreneurs and, at the same time, expand access to residential and commercial real estate investing.
“SF Capital has been a great partner, and this expanded facility will help Patch of Land continue the growth that has resulted in a very strong year for the company,” said CEO Paul Deitch. “We continue to scale our business to meet our growing originations volume, and to fill a void in the real estate finance industry by expanding and improving our marketplace, developing new products for various classes of real estate entrepreneurs, and enabling investors from Main Street and Wall Street the opportunity to participate in this attractive asset class.”
"SF Capital has been a great partner, and this expanded facility will help Patch of Land continue the growth that has resulted in a very strong year for the company," said CEO Paul Deitch.
With the new debt capacity, the Company is well positioned to continue scaling loan originations focused on real estate investors that purchase, refinance, and rehab single-family residential properties and small commercial projects in 45 states across the U.S. The company has achieved record results so far in 2017and remains optimistic about the future.
“SF Capital works to identify and invest in high-quality companies with strong management, unique value propositions, and differentiated product offerings with an ability to scale to profitability within significant target markets,” said Neil Wolfson, President of SF Capital Group. “We have been pleased with our ongoing relationship with Patch of Land and are expanding our position because we believe that the company has the ability to significantly grow its top and bottom lines.”
About SF Capital Group
SF Capital Group is a private investment firm focused on the Financial Technology sector. The firm invests across all asset classes with a flexible, long-term investment focus. SF Capital’s portfolio includes allocations to many asset classes including venture capital, and direct debt investments in private companies.
About Patch of Land
Since issuing its first real estate loan in October 2013, Patch of Land has been recognized in the financial technology space as a leader in online real estate lending. The company employs proprietary technology to efficiently fill a void in the real estate finance industry by providing borrowers reliable access to capital for residential and commercial real estate projects. The platform also establishes a marketplace through which qualified individual and institutional investors can participate in private real estate projects with low minimum investments, predictable returns, and first-lien secured loans.
More information is available at www.PatchofLand.com or by calling 888-959-1465.
Source: Patch of Land