First of its kind marketplace connects investors with 15 lenders in over 40 markets across the United States
DALLAS; Nov. 1, 2023 – Sherman Bridge, a private money lender for investors purchasing distressed single-family residential real estate, has launched a new, first of its kind online marketplace to efficiently connect lenders with investors. The marketplace will help investors streamline the financing process, connecting them with 15 different proven and vetted lenders who offer competitive loan options in a matter of minutes. The marketplace first launched in all major cities in North Carolina, as well as Philadelphia, Tampa, St. Petersburg, Fla., and Greenville, S.C. with operations now in over 40 markets across the U.S.
Launched in 2009, the company began offering private loans for fix-and-flip and fix-and-rent investors looking to purchase value-add single-family properties. Since then, the company has expanded upon its “traditional” direct lending business by launching an innovative marketplace to efficiently offer investors the most competitive and diverse lending programs in the industry. Since launching its marketplace, Sherman Bridge is off to a fast start with nearly 2,100 closed loans representing over $450 million in total volume.
“Amidst the persistent inventory shortages plaguing the housing market, it’s imperative for investors to secure rapid capital through reliable lenders in order to refurbish homes and expedite their return to the market,” expressed Kurt Carlton, Co-Founder and President of New Western. “Leveraging a platform like Sherman Bridge, which provides a free and seamless loan comparison experience, stands out as a remarkable resource, enabling investors to efficiently obtain the swift, trustworthy funding essential for acquiring their next property.”
Private money is often used by investors looking for short-term loans quickly without too many hoops to jump through. At Sherman Bridge, investors can shop and move from one lender to another using just one application. If one lender isn’t the perfect fit for a loan, investors can easily pivot to another of the platform’s 15 lenders – most of which would already be familiar with the opportunity (having learned about it through the secure Lender Portal) – to keep things on track. Platform lenders offer loans with interest rates that vary from 10-12% plus and points that range from 1-3 points.
“Despite market conditions, investors remain optimistic about the housing market and the investment opportunities available,” said Jason Hutton, SVP of Operations at Sherman Bridge. “Our marketplace makes the overall lending process more seamless and efficient for these investors as they continue to play a crucial role in the market. With a variety of programs and capital sources at competitive rates for short-term investor loans, Sherman Bridge is the easiest way for investors to finance and refinance their properties.”
Sherman Bridge is a partner and lending marketplace for investors, and is affiliated with New Western, the largest national private source of residential investment properties. New Western’s own marketplace is used by over 150,000 independent investors, and the company continues to buy and sell a property every 13 minutes. The independent investors who rely on marketplaces like Sherman Bridge for financing, and New Western for properties, represent the largest segment of the market, representing 82% of the investment real estate market share. With Sherman Bridge, New Western investors can experience a seamless process from purchasing to financing to closing on a property.
For more information on Sherman Bridge, visit us at https://shermanbridge.com/.
About Sherman Bridge
In 2009 Sherman Bridge Lending began offering private money loans for flippers and landlords looking to purchase value-add single-family residential real estate. This hands-on background allowed the team to pioneer the development of a variety of loan products for real estate investors. In early 2022, the company rebranded to “Sherman Bridge” and used its experience to become a lending marketplace with proven and vetted lenders who offer competitive financing options.
About New Western
New Western is a real estate investment marketplace that makes investing more accessible for more people. Operating in most major cities, our marketplace connects more than 150,000 local investors looking to rehab houses with sellers. As the largest private source of investment properties in the nation, we buy a home every 13 minutes. New Western delivers new opportunity for all—a fresh start for sellers, exclusive inventory for investors, and in doing so, creates housing that is more affordable for buyers. New Western was honored with a Glassdoor Employees’ Choice Award in the U.S. small and medium company category, recognizing the Best Places to Work in 2023.
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