NEW PROVIDENCE, NJ--(Marketwired - Jun 28, 2016) - ReadyCap Lending, a nationally recognized SBA Preferred Lender and subsidiary of ReadyCap Commercial, LLC, today announced the launch of a national affinity program designed to provide SBA7(a) loans to growing businesses seeking capital through banks or other financial institutions, acting as an extension of their loan solutions.
"[The program] is a way to team up with banks and other referral networks to provide a lending option that enhances their financing offerings to clients and in turn, the relationship with their customer and potential customer base," said President of ReadyCap Lending, John Moshier.
ReadyCap Lending is a nonbank SBA lender supporting partners and borrowers across the country backed by leadership with over 25 years in the SBA7(a) financing space. The affinity program initiative is led by Dominique Mossmann, a professional ingrained in the business for over 20 years and part of the ReadyCap team from its inception.
"SBA is very specialized by nature. Some banks do not currently provide SBA financing, others do but are limited by geography, industry or resource restraints," Mossmann said. "We remove these roadblocks to capital and fast-track funding to small businesses. As demand continues to grow, the niche expertise will be essential to stay competitive."
From 2007 to 2015, SBA loans have increased in size by 82 percent. SBA's most popular loan, the SBA7(a) program granted 63,000 loans totaling $23.6 billion during the 2015 fiscal year.
Dominique Mossmann, National Affinity Manager. An accomplished SBA7(a) professional with experience in operations, credit risk management and strategic partnerships. He serves as a member of the Business Unit Credit Committee responsible for reviewing new applications as well as loan modifications and annual reviews; previously implemented a scorecard that expedited franchise reviews improving efficiencies by 50 percent. At ReadyCap Mossmann previously collaborated directly with the U.S. SBA in minimizing repairs and denials of the guaranty and leads negotiations in the effort to collect the guaranty for SBA guaranteed loans.
To find out more about the affinity program and how to better serve your small business customers, email Dominique Mossmann at: dominique.mossmann@rclending.com.
About ReadyCap Lending
ReadyCap Lending, LLC, is a licensed small-business lending company offering SBA7(a) loans up to $5 million to small businesses throughout the United States. Based in New Providence, NJ, ReadyCap Lending is a subsidiary of ReadyCap Commercial, LLC, a wholly owned indirect subsidiary of Sutherland Partners, L.P., the general partner of which is Sutherland Asset Management Corporation ("Sutherland"). Sutherland, which is organized as a real estate investment trust, acquires, originates, manages and finances commercial real estate loans, and to a lesser extent, asset-backed securities where the underlying pool of assets consists primarily of commercial real estate loans and other real estate-related investments. ReadyCap Lending is an SBA Preferred Lender, and has a dedicated Veteran Community Development program for military veterans. For more information, visit readycaplending.com, or call 800-713-4984.
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Amy Kauffman