Ready Capital Corporation Surpasses $1 Billion in SBA Loans

(Neutral)

Rhea-AI Summary

Ready Capital Corporation (NYSE: RC) announced it has exceeded $1 billion in SBA 7(a) Loans, marking its position as the second-largest non-bank SBA lender in the U.S. Key year-to-date metrics include:

Ranked #2 among non-bank SBA lenders in loan approvals
Ranked #6 among all SBA lenders
Top 1% in loans closed
Closed 489 loans with a volume exceeding $616 million

Ready Capital aims to become the largest non-bank lender within three years.

Positive

Exceeding $1 billion in SBA 7(a) Loans provides a strong market presence.
Ranked #2 in loan approvals among non-bank SBA lenders enhances competitive advantage.
Ranked in the top 1% of SBA lenders by number of closed loans highlights operational efficiency.
Closing 489 loans with an approval volume over $616 million demonstrates robust lending activity.

Negative

None.

News Market Reaction – RC

-0.46%

-0.46% Session move

In the trading session that priced this news, RC declined 0.46%, reflecting a mild negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

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

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google

10/14/2021 - 04:15 PM

NEW YORK, Oct. 14, 2021 /PRNewswire/ -- Ready Capital Corporation (NYSE: RC) ("Ready Capital" or the "Company") today announced that the Company has surpassed $1 billion in SBA 7(a) Loans since it began issuing these loans under this government sponsored program. Ready Capital has grown to become the second-largest non-bank SBA lender in the United States.

Year-to-date (through September 30, 2021) highlights include:

Ranked #2 in terms of dollar volume of loan approvals and number of loans closed among non-bank SBA lenders
Ranked #6 in terms of dollar volume of loan approvals among all SBA lenders
Ranked in the top 1% of SBA lenders by number of loans closed
Closed 489 loans with an approval volume of over $616 million

"We are proud to hit these milestones and have our focus firmly on becoming the largest non-bank lender within the next three years," said John Moshier, President of Ready Capital's Small Business Lending division. "These results underscore our commitment to the small business community, which we aim to highlight through our sponsorship of Military Makeover and SBA Roadshow, communications channels that show SBA lending at its best."

About Ready Capital Corporation
Ready Capital Corporation (NYSE: RC) is a multi-strategy real estate finance company that originates, acquires, finances and services small to medium balance commercial loans. Ready Capital specializes in loans backed by commercial real estate, including agency multifamily, investor and bridge as well as SBA 7(a) business loans. Headquartered in New York, New York, Ready Capital employs over 500 lending professionals nationwide. The company is externally managed and advised by Waterfall Asset Management, LLC.

Contact
Matt Yemma
Peaks Strategies
909-633-9396
myemma@peaksstrategies.com

View original content:https://www.prnewswire.com/news-releases/ready-capital-corporation-surpasses-1-billion-in-sba-loans-301400827.html