Money360, a technology-enabled direct lender specializing in commercial real estate loans, has surpassed $1 billion in loans originated and closed since inception. The announcement comes just 11 months after the company announced it had surpassed $500 million.
“From the beginning, Money360 has been committed to revolutionizing the commercial real estate lending industry,” said Evan Gentry, founder and chief executive officer of Money360. “We built the company with a highly seasoned team that possesses exceptional credit experience through all market cycles, and an origination team with deep local market expertise. Our first $1 billion milestone underscores our success in becoming a market leader by providing a more streamlined and client-friendly solution for brokers and property owners to obtain financing, and we expect to hit the second billion in 2019.”
Since the company’s launch in 2014, Money360 has transformed the commercial real estate lending process for borrowers, brokers and investors. As new regulation limited the types of projects that could obtain traditional bank financing and lengthened the time banks required to process loans, Money360 created an alternative by providing custom loan structures for properties in transition, and by offering a streamlined lending process that ensures efficient loan execution.
Money360’s proprietary end-to-end loan origination system, 360Live, facilitates connection between the borrowers and mortgage brokers involved in a real estate financing transaction so that all parties are kept informed of status, outstanding needs, and time to close. The added efficiency and transparency of the My360 portal allows all parties to focus more on their business.
Over the past few years, Money360 has grown its team to 37 staff members, adding personnel to the Midwest, Southwest and Western Regions, enhancing Money360’s local market expertise across the United States.