Loanspark, a fintech startup that enables B2B companies to become a lending source to their customers, has significantly grown its commercial real estate (CRE) capabilities to deepen its offerings for mortgage companies and brokers.
The company has expanded its lending marketplace by adding more than 100 new lenders, including banks, private investors and balance sheet lenders. With this expansion, Loanspark offers commercial property-assessed clean energy programs for multifamily, hospitality and other initiatives.
Loanspark offers commercial funding solutions to real estate and mortgage professionals and their customers. In addition, Loanspark now funds transactions up to $150 million and facilitates commercial loans for single-family, retail, multifamily, office, industrial and mixed-use properties.
In addition to broadening the offerings and increasing transaction amounts, Loanspark is able to fund foreign investors, offer unlimited cash-out options and provide programs that don’t require tax returns or debt to income ratio decision making. The company also serves as the facilitator of title, appraisal and home insurance, making it a seamless and easy to work with solution, the company says.
“Our partners needed lending programs that fill the property-based financing void in various business communities,” says Loanspark founder and CEO Michael Barnett. “As a mortgage executive veteran, I’m thrilled to extend these valuable opportunities to mortgage and real estate professionals, enabling them to assist their customers in securing the necessary funding for their commercial real estate and business endeavors, all while collaborating with the same trusted partners they’ve relied on for their residential financing needs.”