“The $1 billion-dollar threshold is a milestone for our organization and another first for the industry. As far as we know, we are the only direct private money lender to the fix-and-flip market that has achieved this goal.” Stephen Pollack, CEO
CALABASAS, CALIF. (PRWEB) December 05, 2016
Anchor Loans, LP, (“Anchor”) the nation’s largest direct private money lender in providing qualified developers with quick bridge financing for non-owner occupied properties (the “fix-and-flip” industry), announced today that it has originated over $1 billion in loans to its clients in 2016. The Southern California-based company continues to build on its rapid growth since successfully navigating the 2008-9 economic downturn – when many other real estate lenders experienced devastating losses.
“The $1 billion-dollar threshold is a milestone for our organization and a first for the industry,” said Anchor Loans' CEO, Stephen Pollack. “As far as we know, we are the only direct private money lender to the fix and flip market that has achieved this goal.”
For an industry that is extremely fragmented with small local lenders funding between $5 million and $50 million per year, Anchor’s attainment of over $850 million in assets under management helped make this significant achievement possible.
About Anchor Loans
Anchor Loans has been profitable every year since its founding in 1998 and has shown exceptional performance for its entire history – especially through the real estate downturn and housing crisis of 2008-9. Anchor has originated more than 13,000 short-term loans totaling over $3.8 billion. Anchor Loans’ experience, relationships and proprietary Fintech platform set it apart from other lenders in its ability to rapidly evaluate, underwrite and fund loans, typically in as few as 3-10 business days.