More than $680 Million in Loans Processed to Date
CommLoan, the first digital marketplace for commercial real estate lending, announced today that it has successfully processed more than $680,000,000 in loans. This marks a significant milestone in the company's short 3-year history.
CommLoan has developed a commercial mortgage lending technology platform called CUPID™ that matches borrowers with hundreds of lenders and thousands of loan programs based on their specific lending needs. The CUPID™ platform makes it easier to find the best terms and secure the lowest rates in a fraction of the time of traditional loan processing.
"We are thrilled to be at this stage in our development," said Mitch Ginsberg, CommLoan CEO. "Our team has built an incredible platform that addresses a significant pain point in the marketplace. Our success is proof of the high demand for the solution we offer."
Since CommLoan was founded in 2014, the company has added more than 440 lenders and 100,000 loan programs to its platform. Thousands of borrowers have used CommLoan's platform to secure commercial real estate loans on properties ranging from multi-tenant housing to large industrial complexes. To date, the company has processed more than $680,000,000 in commercial transactions.
Many of the industry's leading commercial real estate brokerages use CommLoan's platform, including Kidder Mathews, the largest independent commercial real estate firm on the West Coast with more than 700 professionals in 20 offices throughout Washington, Oregon, California, Nevada, and Arizona.
"CommLoan's technology enables us to help our clients make informed real estate decisions that can help drive their business forward," said Darren Tappen, SVP and Partner at Kidder Mathews. "We believe the CommLoan platform delivers additional value to our clients who are looking for the best terms and lowest rates."
To help guide CommLoan's accelerated growth, the company has added a number of highly respected advisors to its board including Alan Schnaid, former longtime executive at Starwood Hotels and current CFO at PetSmart.
"I continue to be impressed with the team and technology at CommLoan," said Mr. Schnaid. "They are transforming the commercial real estate lending market - a market that processes more than $500 Billion in loans annually. I believe CommLoan's solution can capture a sizable piece of this market and make a meaningful impact on the way borrowers access the capital markets.
Established in 2014, CommLoan is a commercial mortgage lending technology company that has created the first true marketplace to match commercial mortgage borrowers with the perfect loan product and features personal, concierge-style service. Headquartered in Scottsdale, Arizona, CommLoan is redefining the status quo by bridging the gap between lender and borrower. With its innovative commercial mortgage lending technology platform, CUPID™, CommLoan is able to grant access to hundreds of different lenders representing thousands of loan products, while providing the tools necessary to easily and efficiently compare the loan terms. For more information, visit CommLoan.com or call 1-877-566-8734.
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