Builders Capital announced that it has raised an additional $500 Million of new capital to address the needs of home builders and developers, in addition to the $300 Million announced last week. This new capital will help Builders Capital continue their rapid growth and fill the gap in new home construction financing left behind from the recent banking challenges. Builders Capital is preparing to originate billions in new construction loan volume in the back half of the year for builders and developers across the country.
Latest Fintech News: UniCredit and Mastercard Expand Payments Partnership
“We’ve always served a very important role in the capital stack for builders, but the demand for our offerings has accelerated even faster due to recent banking disruptions and builder confidence continuing to climb,” said Rob Trent, Builders Capital CEO. According to the latest Redfin analysis, New home construction currently accounts for almost 30% of the active for-sale listings in the U.S. (up from the typical 10%). Limited existing housing inventory has put a renewed emphasis in New Construction and with the continued pressure on re-sale inventory, that demand is expected to continue. “Builder confidence hit a 10 month high this month, and we’re seeing an influx of interest from builders scrambling to find a reliable lender that understands their businesses and can deliver the types of loans they need. We’re uniquely positioned to deliver on that need and scale rapidly to meet the demand,” said Trent.
Latest Fintech News: SumUp partners with JCB to Boost Card Acceptance for European Merchants Within Its 4-Million-Strong Global Network
Builders Capital has grown from a small regional lender to a national private lending powerhouse, differentiating themselves from most private lenders by focusing their products specifically for homebuilders and developers. “Our strong track record of loan performance and our market leading platform provide us unique access to the capital markets; that reliable access to capital allows us to consistently deliver for our customers,” said Arik Prawer, Co-President and head of Capital Markets at Builders Capital.
Latest Fintech News: Degen Announces Release of Rocketcoin
[To share your insights with us, please write to sghosh@martechseries.com]
