ABL Surpasses $1 Billion In Loan Originations; Plans For 5x Growth

By Cindi Choi.
Updated Nov 29, 2021

JERSEY CITY, N.J. (PRWEB) November 29, 2021 - Asset Based Lending is proud to announce $1 Billion in loan originations since the companys inception in 2010. This follows a record-breaking month of October that saw $38.7 Million funded across bridge and term rental loans, with total fundings year-to-date in excess of $275,000,000.

For us, a Billion dollars in closed loans signifies the thousands of local real estate investors we were able to support along with the best-in-class originations, processing, servicing, and back-office service that kept at least half of them coming back as repeat borrowers scaling their business over time, said Eric Krattenstein, a Partner at ABL. Weve evolved as a company. The next Billion will come quicker, but never at the expense of the core values weve built our reputation on: speed, flexibility, transparency, and professionalism in private lending.

ABL kickstarted 2021 by adding a long-term rental loan product to their suite of direct lending options. This new product compliments BRRRR investors that use ABLs fast bridge financing for purchase and construction but are looking to hold the property as part of an income producing portfolio instead of flipping. The one-stop-shop approach allows borrowers to continue working with the ABL team theyve come to rely on regardless of their exit strategy or business model. Currently, these rental loans are offered for 1-9 unit properties with interest rates start as low as 4%. The so-called no doc loans are offered with a variety of options including 30-year amortizing, adjustable, and interest-only terms with minimal property seasoning requirements.

This year also saw the return of ABLs Zero-Point Program for short-term fix and flips, new construction, and cash out refinances. The zero-point option was briefly suspended during the pandemic, but the companys unique capital structure and consistent growth has allowed the return of this borrower favorite. ABLs zero-point loans have no pre-payment penalties or exit fees, making them the only true zero-point hard money loan available to real estate investors.

In addition to product development, the company expanded into new adjacent territories such as New Hampshire, Georgia, North Carolina, and South Carolina where investors where immediately attracted to ABLs transparent process and competitive products. Entering these new states allowed Asset Based Lending to round out its East Coast foothold, cementing the lender as one of the premier regional private lenders in the country.

When Paul Ullman and I started this business in December 2010, we never imagined that we would exceed 1 billion in loan volume, said Daniel Leyden, one of ABLs Founding Partners. Weve grown a lot as a company over the last decade, and very much look forward to the next chapter in the firms evolution.

2021 saw the promotion of several staff into partnership and executive-level roles along with several business-critical new hires, setting the foundation needed for the company to effectively scale. Shifting sights to 2022, ABL will ramp up efforts to recruit top talent while executing an aggressive growth strategy aimed at transitioning from the regions top private lender to one of the nations top private lenders. This planned expansion will allow ABL to further diversify its product mix, expand its geographic reach, and continue leading the market with creative and aggressive financing options.

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Asset Based Lending is the premier hard money lender for real estate investors. ABL has been lending for over a decade throughout New Jersey, New York, Connecticut, Pennsylvania, Massachusetts, Rhode Island, New Hampshire, Maryland, Georgia, Florida, Virginia, North Carolina, South Carolina, Texas, and Washington D.C, building strong relationships with borrowers and partnering with investors as they grow their real estate investment businesses. ABL has financed thousands of investment properties worth over $1 Billion in transaction volume, including over 650 transactions so far during 2021.

For more information, call Asset Based Lending at 201-942-9089 or email at info@abl1.net.