Civic Financial Services, an institutional private money lender, has surpassed $4 billion in loan originations since the company was founded six years ago.
“We’re thrilled to reach this important milestone, especially today, as we help our clients and partners to navigate COVID-related capital contraction and maintain liquidity, while continuing to achieve their real estate investing goals,” CIVIC President William Tessar said. “We look forward to many more years of serving the real estate investing community by providing the best private lending products, support and service available in the industry.”
It’s the third major milestone in as many years for CIVIC. The company topped $3 billion in lifetime funding in October 2019, while in June 2018 it announced it had securitized $190 million in investor property loans. At the time, this was the largest securitization pool of non-aggregated bridge-only loans from a single lender in the history of private money lending, with all loans originated by CIVIC.
CIVIC was established in 2014 by parent companies Wedgewood Inc. and HMC Assets to meet the needs of investors who do not fit within traditional real estate lending criteria. Since being founded, the lender has provided financing for nearly 10,000 real estate investment loans.
CIVIC provides real estate investors with short and long term financing solutions, including bridge and rental loans for residential properties, rehab financing, and non-recourse multifamily bridge loans. The company’s products are also available through retail, wholesale and correspondent channels.
“Even during a time of market vulnerability, property investment remains one of the most robust and fastest-growing segments of the real estate industry,” Tessar added. “We are pleased to serve and remain a reliable source of financing for a large share of that market.”
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