Chicago,IL-based Clopton Capital plans to create larger conduits for lending CMBS loans.
Currently its conduit commercial mortgage portfolio includes investor and owner occupied properties. These are over $1 million with terms of up to 10 years with fixed-rate options. The company also has mortgages that have up to 30-year amortization. The distribution of the properties is nationwide.
Clopton has also recently started a small-balance mortgage plan to lend small amounts of money that many banks and lenders will not offer.
According to a company release, the tentative minimum amount to lend under this recently launched product is $25,000 and the maximum is $400,000. The firm believes this solution can aid thousands of applicants who were declined commercial loans by local banks.
It also intends to expand its line of semi truck lending and insurance services. Clopton will also be utilizing the funds from the short sales cycle products to fund its long-cycle products such as its U.S. Small Business Administration loans.
“I really feel the demand for these loan products will be massive, we're entering a perfect storm where businesses won't be able to get credit, especially if they are borrowing amounts that aren't worth an underwriter's time”, said Jake Clopton, the founder of Clopton Capital.
Clopton primarily concentrates on commercial mortgages, SBA loans and niche financing mechanisms including gas station loans and owner operator financing.