ReadyCap Lending Completes $145 Million SBA 7(a) Loan Securitization

Ready Capital (NYSE:RC) announced that ReadyCap Lending completed its fourth securitization of SBA 7(a) loans, ReadyCap Lending Small Business Loan Trust 2026-4, on June 26, 2026.

Rhea-AI Summary

Ready Capital (NYSE:RC) announced that ReadyCap Lending completed its fourth securitization of SBA 7(a) loans, ReadyCap Lending Small Business Loan Trust 2026-4, on June 26, 2026. The deal issued approximately $145 million of bonds, providing additional liquidity to support small business lending.

The securitization comprised three floating-rate tranches issued at par with a weighted average coupon of about 8.526%: $111.7 million Class A bonds at roughly SOFR + 1.85%, $21.6 million Class B at SOFR + 3.20%, and $11.9 million Class C at SOFR + 6.15%. Performance Trust Capital Partners acted as Initial Purchaser, with J.P. Morgan Securities and East West Markets as Co-Managers. According to Ready Capital, the transaction underscores ReadyCap Lending’s access to securitization markets, enhances funding flexibility, and supports expanded lending capacity.

Positive

• $145 million SBA 7(a) loan securitization completed on June 26, 2026
• Three floating-rate tranches issued at par with 8.526% weighted average coupon
• $111.7 million Class A, $21.6 million Class B, $11.9 million Class C bond structure
• Transaction provides additional liquidity and enhances funding flexibility for ReadyCap Lending
• Deal highlights ReadyCap Lending’s continued access to securitization markets

Negative

• None.

Argus Jul 31 session

-1.38% close to close Open Argus

Details

News Market Reaction – RC

In the Jul 31 session, RC declined 1.38%, reflecting a mild negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

Market Context

Historical reactions ranged from 5% to -12.5%, adding mixed context to this SBA loan securitization....

Analysis

Historical reactions ranged from 5% to -12.5%, adding mixed context to this SBA loan securitization. Funding access was documented, while moderate short positioning and neutral insider sentiment remained risks to monitor.

Key Figures

Transaction date: June 26, 2026 Securitization number: Fourth Bonds issued: Approximately $145 million +4 more

Transaction date

June 26, 2026

SBA 7(a) loan securitization

Securitization number

Fourth

ReadyCap Lending SBA 7(a) loan securitization

Bonds issued

Approximately $145 million

SBA 7(a) loan securitization

Floating-rate tranches

3 tranches; approximately 8.526% weighted average coupon

Issued at par

Class A bonds

$111.7 million; approximately SOFR + 1.85%

Capital structure

Class B bonds

$21.6 million; SOFR + 3.20%

Capital structure

Class C bonds

$11.9 million; SOFR + 6.15%

Capital structure

Historical Context

5 past events · Latest: Jun 23

5 events

1. Jun 23

   Partner appointment

   24h Move

   +5.0%

   Waterfall Asset Management named James Cuby as Partner, effective July 1, 2026.

2. Jun 15

   Dividend declaration

   24h Move

   -2.9%

   The Board approved quarterly common and preferred share dividends.

3. May 07

   Quarterly earnings

   24h Move

   -12.5%

   Q1 results showed losses, elevated delinquencies, and a balance-sheet repositioning plan.

4. May 01

   Earnings scheduling

   24h Move

   -4.1%

   The company scheduled its Q1 results release and management webcast.

5. Apr 01

   Business update

   24h Move

   +1.9%

   RC reported loan sales, debt retirement, and planned off-balance-sheet originations.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

securitization, sba 7(a) loans, floating-rate tranches, sofr

4 terms

securitization financial

"ReadyCap Lending completed its fourth securitization of SBA 7(a) loans"

Securitization is when a bank or company takes a bunch of loans or assets, like mortgages or car loans, and bundles them together into a single package. They then sell pieces of this package to investors, who receive regular payments from the borrowers. This process helps the original lender get money quickly and spreads the risk among many investors.

sba 7(a) loans financial

"completed its fourth securitization of SBA 7(a) loans"

SBA 7(a) loans are U.S. government‑backed small business loans where a private lender provides funds and the Small Business Administration guarantees a portion of the loan like a co‑signer or safety net. They matter to investors because the guarantee lowers lender risk and makes it easier for small companies to get funding, which can boost business growth, affect bank loan portfolios, and influence credit risk and returns in securities tied to small‑business lending.

floating-rate tranches financial

"The securitization included three floating-rate tranches issued at par"

Floating-rate tranches are slices of a bond or securitized debt where the interest paid to holders changes over time based on a published benchmark rate plus a fixed margin; each tranche has its own place in the payment order and risk level. They matter to investors because the income they deliver moves with market interest rates, providing some protection if rates rise but exposing holders to interest-rate swings and the credit dynamics of that tranche — like owning an adjustable-rate portion of a layered loan.

sofr financial

"$111.7 million of Class A bonds priced at approximately SOFR + 1.85%"

The Secured Overnight Financing Rate (SOFR) is a market benchmark that measures the cost of borrowing cash overnight using U.S. Treasury securities as collateral. Investors watch SOFR because it acts like a speedometer for short-term interest costs—affecting loan rates, bond yields and the pricing of interest-rate contracts—so movements change borrowing expenses, cash returns and the value of interest-sensitive investments.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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NEW YORK, July 30, 2026 (GLOBE NEWSWIRE) -- Ready Capital Corporation (NYSE:RC) (the “Company”) announced today that ReadyCap Lending completed its fourth securitization of SBA 7(a) loans, ReadyCap Lending Small Business Loan Trust 2026-4, on June 26, 2026. The transaction involved the issuance of approximately $145 million of bonds that generated meaningful additional liquidity for the Company in support of ReadyCap Lending’s continued commitment to financing small businesses nationwide.

The securitization included three floating-rate tranches issued at par, with a weighted average coupon of approximately 8.526%. The capital structure consisted of $111.7 million of Class A bonds priced at approximately SOFR + 1.85%, $21.6 million of Class B bonds priced at SOFR + 3.20%, and $11.9 million of Class C bonds priced at SOFR + 6.15%. Performance Trust Capital Partners, LLC served as Initial Purchaser in the transaction with J.P. Morgan Securities LLC and East West Markets, LLC serving as Co-Managers.

The transaction underscores ReadyCap Lending’s continued access to the securitization market and enhances the Company’s funding flexibility. By broadening liquidity and supporting additional lending capacity, the transaction strengthens ReadyCap Lending’s ability to serve borrowers, referral partners, and small business communities across the country.

“Consistent access to diversified funding sources is essential to our ability to serve borrowers and referral partners effectively,” said Gary Taylor, Chief Executive Officer of ReadyCap Lending. “This securitization enhances our lending capacity, reinforces the durability of our platform, and reflects the continued strength of ReadyCap Lending’s position in the SBA lending market.” ReadyCap Lending remains focused on combining disciplined credit execution, reliable capital access, and responsive customer service to help small businesses obtain the financing they need to grow and succeed.

About Ready Capital Corporation
Ready Capital Corporation (NYSE: RC) is a multi-strategy real estate finance company that originates, acquires, finances and services lower-to-middle-market investor and owner occupied commercial real estate loans. The Company specializes in loans backed by commercial real estate, including investor, construction, and bridge as well as U.S. Small Business Administration loans under its Section 7(a) program. Headquartered in New York, New York, the Company employs over 400 professionals nationwide.

Contact
Investor Relations
212-257-4666
InvestorRelations@readycapital.com
Media Relations
PR@readycapital.com

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did Ready Capital (NYSE:RC) announce about its SBA 7(a) loan securitization on July 30, 2026?

Ready Capital announced that ReadyCap Lending completed a securitization of approximately $145 million in SBA 7(a) loans. According to Ready Capital, this fourth securitization enhances liquidity, supports additional lending capacity, and reinforces ReadyCap Lending’s position in the SBA lending market.

How large is ReadyCap Lending’s 2026-4 SBA 7(a) loan securitization for RC shareholders?

The ReadyCap Lending Small Business Loan Trust 2026-4 totals about $145 million of bonds backed by SBA 7(a) loans. According to Ready Capital, proceeds provide meaningful additional liquidity to support small business financing and broaden the company’s funding flexibility.

What is the capital structure of ReadyCap Lending Small Business Loan Trust 2026-4 for Ready Capital (RC)?

The capital structure includes $111.7 million Class A bonds at about SOFR + 1.85%, $21.6 million Class B at SOFR + 3.20%, and $11.9 million Class C at SOFR + 6.15%. According to Ready Capital, all tranches are floating-rate and issued at par.

What coupon does ReadyCap Lending’s 2026-4 SBA 7(a) securitization pay for Ready Capital (RC)?

The securitization carries a weighted average coupon of approximately 8.526% across its three floating-rate tranches. According to Ready Capital, these tranches are priced over SOFR at spreads of 1.85%, 3.20%, and 6.15% for Classes A, B, and C, respectively.

How does the ReadyCap Lending SBA 7(a) securitization affect Ready Capital’s liquidity and funding?

The securitization generates additional liquidity and enhances ReadyCap Lending’s funding flexibility, according to Ready Capital. The company states that broader liquidity supports increased lending capacity to small businesses and strengthens its ability to serve borrowers and referral partners nationwide.

Who managed ReadyCap Lending’s $145 million SBA 7(a) securitization for Ready Capital (RC)?

Performance Trust Capital Partners acted as Initial Purchaser for the securitization. According to Ready Capital, J.P. Morgan Securities and East West Markets served as Co-Managers, helping structure and distribute the three floating-rate bond tranches backed by SBA 7(a) loans.