MIAMI BEACH, FL – 12 May, 2016 – Miami Beach-based Refresh Funding announced today that it has secured a credit facility from a local financial institution. Over the past few months, Refresh has originated millions in non-owner occupied residential and commercial bridge loans. This credit facility represents the latest opportunity to expand Refresh’s growing presence in the South Florida marketplace.
Samuel Soriero, managing partner, recently stated, “The fact that a local bank completed its due diligence on our company and our processes to source, underwrite, close, and service loans represents an important vote of confidence in our team and offerings. Having closed on our first credit facility with this local financial institution is a testament of our proven track record and corporate structure as well as our commitment to the South Florida region.”
With the South Florida real estate market experiencing growth, the Refresh Funding team is excited to expand its non traditional lending capabilities.
Refresh loan originator Andrew Acosta also commented, “Securing this line of credit gives us the flexibility to loan against even more assets through origination. This will open us up further in the community as a go to lender for those looking at residential and commercial investment opportunities.”
Investment bridge loans represent an under-served niche market. With increased regulation, banks simply cannot fund loans as quickly as private lenders. As technology advances have made information flow and decision making even faster and more efficient, alternative lenders such as Refresh have picked up the slack where traditional finance options have left off.
Refresh Funding has closed on deals in as little as 3 days, whereas banks can take months.
Distributed by Press Release Jet
Company Name: Refresh Funding
Contact Person: Andrew Acosta
Phone: 305 800 3863
Country: United States