Civic Financial Services Surpasses $4 Billion in Loan Originations
Private money lender Civic Financial Services has surpassed $4 billion in loan originations since the company was founded six years ago.
This is the third major milestone the company has reached in the last three years. It surpassed $3 billion in lifetime funding in October 2019. In June 2018, the company announced it had securitized $190 million in investor property loans. At the time of the announcement, it was the largest securitization pool of non-aggregated bridge-only loans from a single lender in the history of private money lending.
“We’re thrilled to reach this important milestone, especially today, as we help our clients and partners to navigate COVID-related capital contraction and maintain liquidity, while continuing to achieve their real estate investing goals,” CIVIC President William Tessar said.
CIVIC was founded in 2014 by parent companies Wedgewood Inc. and HMC Assets to meet the needs of investors who do not fit within traditional real estate lending criteria. Since being founded, CIVIC has provided financing for nearly 10,000 real estate investment loans.
CIVIC provides real estate investors with short- and long-term financing solutions, including bridge and rental loans for residential properties, rehab financing and non-recourse multifamily bridge loans. The company’s products are also available through retail, wholesale and correspondent channels.
