BOCA RATON, Fla., March 16, 2016 /PRNewswire/ -- This morning three private commercial mortgage veterans announced the launch of a new commercial private mortgage lending platform. Shelby Funding, LLC based in Boca Raton, Florida specializes in providing short-term or "bridge" acquisition financing for real estate investors bidding at foreclosures and foreign nationals seeking acquisition financing for U.S. investment real estate. Initially, Shelby's lending footprint will be the Eastern corridor, from the New York tri-state region through Florida.
"Our experience has shown that in the competitive world of private mortgage lending, specialization, responsiveness and reliability are the keys to success," said Robert Gottesman, one of Shelby's co-founders. "We chose two challenging, time-sensitive, niches for Shelby because our clients understand that borrowing is often a much cheaper alternative than admitting a partner. At Shelby, we've created a 'Decision Calculator' that allows our clients to run various scenarios and evaluate the true cost of capital," said David H. Katz, another Shelby co-founder.
Shelby Funding's private lending platform provides acquisition financing to foreclosure investors, fix and flip rehabbers, foreign nationals seeking short-term acquisition financing. Shelby's same-day funding for pre-approved foreclosure buyers in South Florida is one of its most successful programs. According to Drew Parker, a Shelby co-founder and Managing Member, "While Shelby's same-day, '24 or less', program is currently available only in Palm Beach, Broward and Dade Counties, we are a client-centric firm and plan to expand this program to other parts of our lending territory soon."
ABOUT SHELBY FUNDING. Shelby Funding is a newly formed Florida LLC based in Boca Raton, Florida and with origination offices in Florida and Northern New Jersey. Shelby's founders each have more than 30 years experience in lending, real estate law, banking, mortgage finance and accounting. For further information about the company or to test drive Shelby's unique "Decision Calculator" visit the company on the web at www.shelbyfunding.com
SOURCE Shelby Funding