Middlegate Funding, a privately owned national commission advance company, has officially launched in New York City.
Middlegate says the firm was established to provide real estate agents and brokers with a more cost-efficient and more cost-effective way to receive their commission quickly.
The firm, located at 317 Madison Ave., was founded by Ashley Joffe, a business professional with over 25 years of experience in the finance and real estate sectors. Since its launch in summer 2013, the firm says it has had success in at least 20 states, resulting in strategic partnerships with brokerages across the country.
‘While our initial strategy was offering our services outside of New York, now that we have a proven track record with agents nationwide, we are ready to attack the NYC market right in our own backyard,’ says Joffe. ‘Even at the height of the market, there will always be a need for agents to have capital and cash flow to effectively build their business.’
Middlegate says it offers a service to agents and brokers at low rates. The company claims its product is also beneficial to brokerage firms, whereby Middlegate works closely with the firms to have their commission advance program added to the other service offerings the firm may provide to their agents, at no cost to the brokerage.