ABL Promotes Senior Executives; Announces Zero Point Hard Money Program & Rental Loan Initiative

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Asset Based Lending Announces the promotions of Eric Krattenstein and Adam Cohen to Partner, Michael Basciano to Executive Vice-President, new term rental program, and return of their zero-point loans.

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We’ve built our brand around the values of service, transparency, and reliability during our first 10 years in business – backed them up with action time and again during the pandemic – and will continue to build on these core values for years to come.

Asset Based Lending Co-Founding Partner Daniel Leyden and Managing Partner Kevin Rodman are proud to announce the promotion of several staff into partnership and executive roles, and the launch of ABL’s new rental loan program and the return of ABL’s Zero-point Loan program.

Eric Krattenstein, Chief Marketing Officer and Head of Sales, and Adam Cohen, Chief Financial Officer, were both promoted to Partner. Michael Basciano, Head of Operations, was promoted to Executive Vice President. The three, with a combined 16 years at ABL, have joined the Firm’s Operating Committee.

“We’re all very excited for this next phase of ABL’s growth, and confident that we have the team, products, and strategy in place to further solidify our reputation as the East Coast’s most trusted hard money lending partner,” said Krattenstein. “We’ve built our brand around the values of service, transparency, and reliability during our first 10 years in business – backed them up with action time and again during the pandemic – and will continue to build on these core values for years to come.”

ABL launched 2021 with a revamped rental loan program, adding term lending options to the company’s suite of direct-lending programs. Bringing these loan products in house allows the firm to offer better pricing, streamlined service, and a singular point of contact for the entire lifecycle of a loan from purchase and renovation through refinance. These rental loans are for 1-4 family properties with loan maximum of $3 million, or $6.25 million for portfolio loans. Interest rates start as low as 4.25% with no personal income verification and a variety of options including 30-year amortizing, adjustable, and interest-only terms.

Additionally, ABL announced in March the return of the zero-point loan option for short-term fix and flips, new construction, and cash out refinances. The zero-point loan option was suspended during the pandemic, but the company’s growing success and unique capital structure has allowed the return of this borrower favorite. ABL’s zero-point loans have no pre-payment penalties or exit fees and are the only true zero-point hard money loan available to real estate investors.

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, Florida, Virginia, 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 $680 million, including over 440 transactions during the pandemic and throughout 2020.

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

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Eric Krattenstein
@ablending
since: 01/2013
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