Source Capital Funding Finishes 2010 with Record Results

Jan. 20, 2011 - PRLog -- SAN DIEGO – – Although San Diego home prices declined throughout 2010, Source Capital Funding, Inc., a San Diego-based private real estate lender, achieved record results during the year, having closed 53 loans and funded $11.539MM over the course of 2010. Those results easily outperformed the 16 loans closed and $4.75MM in loans funded by Source Capital in 2009. The company anticipates another record-breaking year in 2011 as prospective borrowers continue to find opportunities to purchase real estate at the lowest prices in years.

One of the loans closed in December by Source Capital Funding was a $689K loan for a couple who had deemed the property as their “dream home” because it was in an area of Los Angeles that was ideal for their son because of the neighborhood and school district. Ferrandi believes that opportunistic investors will continue to take advantage of reduced real estate prices, helping the firm achieve its 2011 goals.

“Our goal for 2011 is to fund $15MM in loans and to exceed 65 transactions,” said Sacha Ferrandi, partner, Source Capital Funding. “We want to continue to be the industry leader in small cap lending by providing borrowers funds at reasonable terms and pricing.  Hard money lending for such a long time has had itself associated with high cost fees and unreasonable terms.  We are changing the way private capital is utilized through a fair and make sense approach to underwriting and funding.”

Source Capital Funding and its investors fund low-risk, first trust deeds with solid monthly returns. Source Capital Funding has a strong reputation in the community, as well as the knowledge and experience to guide prospective borrowers and investors through what can be a complicated and intimidating process.

All of the loans closed by the firm in December were in California’s San Diego, Los Angeles, Orange, Riverside and Maricopa Counties, where Source Capital Funding has established a recognized name in the industry. For more information, visit http://www.source-capital.com.

About Source Capital Funding:
Source Capital specializes in the underwriting and funding of short term residential real estate loans with the use of private capital. The company’s unique approach to financing with private capital allows speed and flexibility that traditional banking environments cannot provide. Loans are secured by deeds of trust on real estate and are further secured by a promissory note and personal guarantee. All transactions are processed through nationally recognized title and escrow companies. Source Capital works closely with brokers, borrowers and investors to ensure a secure and timely transaction. Clients can count on Source Capital's strong commitment to the highest standards of business ethics, underwriting due diligence and post-funding management. For more information, visit http://www.source-capital.com.