Wilshire Quinn Hits $100 Million in Total Loan Volume
Jun. 05, 2018
SAN DIEGO--(BUSINESS WIRE)--Jun 5, 2018--Wilshire Quinn Capital, Inc. announced Tuesday that its private mortgage fund, the Wilshire Quinn Income Fund, has funded over $100,000,000 in bridge loans since its inception in 2011. Wilshire Quinn’s successful track record is closely linked to their ability to make immediate lending decisions based on their highly disciplined underwriting approach.
Wilshire Quinn, based in San Diego, CA, is a portfolio lender and has become a leading institution in the California bridge lending marketplace. “Our successful track record is a testament to our strict loan-to-value guidelines and our attention to detail. We focus on properties with substantial amounts of equity, which are located in major metropolitan areas and coastal regions,” said Christopher M. Garcia, CEO of Wilshire Quinn Capital, Inc.
Unlike traditional lenders, bridge lenders focus more upon the equity in a property relative to the borrower’s credit profile. The underwriting and funding process for a bridge loan can take place in a matter of days, instead of weeks or months like a traditional lender. This type of financing can provide a borrower extra time to obtain a traditional loan or market a property for sale.
Added Garcia, “We will not offer a lending commitment unless there is a clear exit strategy. Our goal is to maintain strong relationships with our borrowers throughout the entire lending process; from the moment a term sheet is signed to when the loan is eventually paid off.”
Wilshire Quinn provides financing on a wide variety of property types including office, retail, industrial, mixed-use, multi-family, and non-owner occupied SFRs.
As for Wilshire Quinn’s typical borrowers, their customer base is fairly diverse; borrowers range from corporations looking for construction financing, to individuals who are looking to purchase or refinance an investment property. Wilshire Quinn provides financing to borrowers who are unable to obtain credit from traditional lending institutions or need to close quickly on a property.
ABOUT WILSHIRE QUINN
Wilshire Quinn is a direct portfolio lender focused on bridge loans secured by first trust deeds. The company is based in San Diego, CA with offices in Los Angeles and San Francisco. Wilshire Quinn typically funds loans for their customers in 5-7 days and offers a variety of loans such as: refinance, purchase, blanket, rehab loans, 1031 exchange, partnership buyouts, and more. Wilshire Quinn originates loans ranging from $200,000 – $10,000,000 and works with commercial and residential borrowers nationwide.
Loans are made or arranged by Wilshire Quinn Income Fund, LLC pursuant to California Finance Lenders Law license #603J060. Wilshire Quinn Capital, Inc. serves as manager of the Wilshire Quinn Income Fund, LLC. The information above is deemed reliable but is not guaranteed. Portions of the loans described above may be sold to third party purchasers and does not necessarily reflect the amount held in the Fund’s loan portfolio. Nothing contained in the information above is an offer or solicitation for the purchase or sale of any security. Any such offer to purchase securities will be made only through the Offering Circular for the Wilshire Quinn Income Fund, LLC.
View source version on businesswire.com:https://www.businesswire.com/news/home/20180605005528/en/
CONTACT: Wilshire Quinn Capital, Inc.
Leonard Bruno, 619-872-6000
KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA
INDUSTRY KEYWORD: PROFESSIONAL SERVICES BANKING FINANCE CONSTRUCTION & PROPERTY COMMERCIAL BUILDING & REAL ESTATE RESIDENTIAL BUILDING & REAL ESTATE
SOURCE: Wilshire Quinn Capital, Inc.
Copyright Business Wire 2018.
PUB: 06/05/2018 05:43 AM/DISC: 06/05/2018 05:43 AM