Ready Capital Crosses $10 Billion in Bridge Originations Since Launching its Bridge Platform in 2015

Rhea-AI Summary

Ready Capital Corporation announced significant growth in its bridge lending program, surpassing $10 billion in bridge originations since its launch in 2015. This milestone includes over 500 loans and highlights the company's adaptability in evolving market conditions.

David A. Cohen, Chief Production Officer, attributed this success to the diverse bridge lending products and a responsive credit process tailored to client needs. Ready Capital specializes in various commercial real estate loans, including agency, multifamily, investor, and U.S. Small Business Administration loans under its Section 7(a) program. The company is headquartered in New York and employs over 600 professionals nationwide.

Positive

• Achieved over $10 billion in bridge originations since 2015.
• Completed over 500 loans, indicating strong market demand.
• Ability to adapt loan structures to fit evolving market conditions.

Negative

• None.

NEW YORK, April 12, 2023 (GLOBE NEWSWIRE) -- Ready Capital Corporation announced today that as of the first quarter of 2023, it exceeded $10 billion in bridge originations, comprising over 500 loans, since the launch of its bridge program in 2015.

“Since the inception of our bridge lending platform, we have provided certainty of execution for our clients,” said David A. Cohen, Chief Production Officer. “Our success can be attributed to the breadth of our bridge lending products and our ability to quickly pivot with evolving market conditions, our ability to creatively structure loans to fit our clients’ business plans, and our up-front credit process.”

About Ready Capital Corporation
Ready Capital Corporation (“Ready Capital” or the “Company”) (NYSE:RC) is a multi-strategy real estate finance company that originates, acquires, finances, and services small-to-medium balance commercial loans. The Company specializes in loans backed by commercial real estate, including agency, multifamily, investor, and bridge as well as U.S. Small Business Administration loans under its Section 7(a) program. Headquartered in New York, New York, the Company employs over 600 professionals nationwide.

Contact
Investor Relations
212-257-4666
InvestorRelations@readycapital.com 

Media Relations
PR@readycapital.com

SOURCE Ready Capital Corporation

FAQ

What is the significance of Ready Capital Corporation's $10 billion in bridge originations?

Ready Capital's exceeding $10 billion in bridge originations signifies strong growth and market confidence in its lending program since 2015.

How many loans were originated by Ready Capital Corporation since 2015?

Ready Capital Corporation has originated over 500 loans since launching its bridge lending program in 2015.

Who commented on the success of Ready Capital's bridge lending platform?

David A. Cohen, Chief Production Officer, commented on the success and adaptability of Ready Capital's bridge lending platform.

What types of loans does Ready Capital Corporation specialize in?

Ready Capital Corporation specializes in commercial real estate loans, including agency, multifamily, investor loans, and U.S. SBA loans.