Changes are on the way for ""Clopton Capital"":http://cloptoncapital.com/index.html, with the company's recent announcement that it would launch a small-balance mortgage plan for minimally-sized loans. Primarily focused on commercial mortgages, SBA loans, commercial real estate loans, and niche financing, Clopton's new program is a rarity among similar lenders.[IMAGE]
Clopton's offering will target single applicant loans between $25,000 and $400,000. The entity's update product is expected to fill the needs of borrowers who have been turned away by[COLUMN_BREAK]
banks not interested in originating comparable loans for less than $1,000,000.
An added bonus for borrowers? The new small-balance mortgages can be conducted without the use of broker points. Additionally, Clopton is making plans to debut an in-house commercial mortgage initiative for exceptionally minimal loans, which would give clients a much speedier underwriting process. Clopton's in-house program would operate as a derivative of its internal bridge loan financing service.
Founder of the company, Jake Clopton, commented on the platform, saying, ""I really feel the demand for these loan products will be massive, we're entering a perfect storm where businesses won't be able to get credit, especially if they are borrowing amounts that aren't worth an underwriter's time""
Matt Reed, Clopton's vice president and senior financial consultant, added, ""The long term strategy of this operation is to fund a larger and larger portion of loans in-house as time goes on.""
Based in Chicago, Illinois, Clopton specializes in commercial lending, financing, and capital services. The company seeks to provide a bridge between the users and lenders of capital for commercial investing.