2 years ago
Noble Capital Releases Second Quarter Loan Portfolio Report, Shows Record Volume
1888 Press Release - Noble Capital, the premier private money lending network in Texas, has released its second quarter loan portfolio results. Among the highlights of the report is its record high loan portfolio of $48,900,000.
Austin-San Marcos, TX - Noble Capital has released its second quarter loan portfolio results, showing another record breaking level of loan volume. The following are some of the highlights from the report:
1) Loan portfolio at a record level of $48,900,000.
2) Loans averaged more than $467,000 each, a 40% increase in average loan size over last quarter.
3) Nearly $16,000,000 in total loans originated for the quarter, a 45% increase in loans originated as measured in dollars.
"We saw an increase in the average loan size this quarter, as more sophisticated borrowers began grouping projects together into bundles. As the borrowers become more sophisticated in our market, the loans will naturally grow to encompass entire projects as opposed to one off deals," James Gaskin, Funding Manager.
Noble Capital originates and services loan opportunities to its private lender network, where members are able to earn a high yield on those loans secured by Texas real estate. Through its wholly owned subsidiary named Streamline Funding, they identify borrowers that are qualified and ready to take on the responsibility of one of these types of short term real estate loans.
Given the high demand for Texas real estate, due to a strong job market and continued economic growth, the Texas real estate market should continue its positive trends.
"As good as the second quarter was, we continue to expect healthy demand as we move into the third quarter, and finally an acceleration into the fourth as Borrowers look to capture as many deals as possible to prepare for the selling season in the Spring," Chris Ragland, Chief Operating Officer of Noble Capital.
For more information about Noble Capital, please visit http://www.noblecapital.com/about/media/
About Noble Capital:
Noble Capital was formed in 2004 to service & manage lender relationships, and has successfully participated in over 400 transactions. The Noble Capital Private Lender Network is an informal group of individuals who fund short term, first lien mortgage loans serviced by Noble Capital through borrowers provided by Streamline Funding. The mission of Noble Capital is to be Texas' premiere Private Real Estate Lending Platform, providing quality lending opportunities (8-10% interest secured by Texas real estate) to members of their Private Lender Network.
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