The numbers are in and they show Money360‘s first full year in operation was a success.
The online commercial real estate marketplace lender, which launched in the fall of 2014, closed more than $56 million in commercial real estate loans for multifamily, retail, industrial, hospitality and industrial properties. Closings occurred in California, Florida, Illinois, Indiana and Montana.
“As our first full year in operations in originating loans, 2015 was a strong expansion year for us. We struck deals across the country, and it sets the stage for an even stronger 2016,” Money360 founder and CEO Evan Gentry said. “Our deal volume continues to pick up, reflecting the growth of online marketplace lending in the $3 trillion commercial real estate industry.”
Money360 President Gary Bechtel has big plans for the company in 2016.
“Our operations in 2016 will be focused on expanding our commercial real estate loan programs and we will continue to expand our technology platform, origination capabilities and back office personnel. We are setting ourselves up to make Money360 the number-one marketplace lender and preferred online financing source for both borrowers and investors in the commercial real estate finance industry.”