Ready Capital Corporation Surpasses $1 Billion in SBA Loans

Now Second-Largest Non-Bank Lender in US
Published: Oct. 14, 2021 at 3:15 PM CDT

NEW YORK, Oct. 14, 2021 /PRNewswire/ -- Ready Capital Corporation (NYSE: RC) ("Ready Capital" or the "Company") today announced that the Company has surpassed $1 billion in SBA 7(a) Loans since it began issuing these loans under this government sponsored program. Ready Capital has grown to become the second-largest non-bank SBA lender in the United States.

Year-to-date (through September 30, 2021) highlights include:

  • Ranked #2 in terms of dollar volume of loan approvals and number of loans closed among non-bank SBA lenders
  • Ranked #6 in terms of dollar volume of loan approvals among all SBA lenders
  • Ranked in the top 1% of SBA lenders by number of loans closed
  • Closed 489 loans with an approval volume of over $616 million

"We are proud to hit these milestones and have our focus firmly on becoming the largest non-bank lender within the next three years," said John Moshier, President of Ready Capital's Small Business Lending division. "These results underscore our commitment to the small business community, which we aim to highlight through our sponsorship of Military Makeover and SBA Roadshow, communications channels that show SBA lending at its best."

About Ready Capital Corporation 
Ready Capital Corporation (NYSE: RC) is a multi-strategy real estate finance company that originates, acquires, finances and services small to medium balance commercial loans. Ready Capital specializes in loans backed by commercial real estate, including agency multifamily, investor and bridge as well as SBA 7(a) business loans. Headquartered in New York, New York, Ready Capital employs over 500 lending professionals nationwide. The company is externally managed and advised by Waterfall Asset Management, LLC.

Matt Yemma
Peaks Strategies

View original content:

SOURCE Ready Capital Corporation

The above press release was provided courtesy of PRNewswire. The views, opinions and statements in the press release are not endorsed by Gray Media Group nor do they necessarily state or reflect those of Gray Media Group, Inc.