Ignite Funding Hedges Against Market Corrections in Real Estate
LAS VEGAS, April 28, 2021 /PRNewswire/ -- Ignite Funding, a hard money lender, experienced zero defaults in 2020, a pitfall that many lenders and real estate developers were unable to avoid due to the global pandemic. Ignite Funding mitigates its risk exposure with its deviation from the "one-size-fits-all" approach to lending. This flexibility allows them to work with developers with varying expertise and product type, enabling them to maintain a diverse portfolio that has been essential during market fluctuations.
Developers whose business strategy that may not align with "cookie-cutter" traditional financing should consider utilizing Ignite Funding to help bridge that gap. "Ignite Funding is always looking for new borrowers that are suitable to the 'what-ifs' scenarios," says Pat Vassar, Ignite Funding's Director of Underwriting. "This includes having the ability to recreate themselves and evolve with the market. Whether that involves developing a different product type or moving into a different region, we will help them work through that process."
Ignite Funding typically lends in the Western U.S. but is open to working with bankable borrowers in non-judicial states with a long history in the region and reliable track record. Ignite Funding lends on acquisitions, horizontal and vertical development/rehabilitation on both residential and commercial projects. Examples of projects include townhome or masterplan communities, lifestyle center rehabilitation, apartment conversions, mixed-use projects, industrial projects, and many more.
At the end of December 2020, Ignite Funding had $175 million in loans under management. To date, Ignite Funding has facilitated 1,376 real estate investments funded with $907 million in investor capital, providing 51 borrowers in 16 states with the ability to acquire and develop over 12,000 acres of land, 8,100 residential lots and 3.5 million square feet of commercial space.
About Ignite Funding
Ignite Funding proves that real estate lending does not stop because of an epidemic as its investors continue to fill the gap left by traditional bank lending. If you are a developer in search of lending that aligns with your goals, Click Here to review our lending criteria and schedule a consultation with the Director of Underwriting.
Contact: Izzy Irizarry
Ignite Funding
Phone 702.921.5147
Fax 702.739.7735
[email protected]
SOURCE Ignite Funding
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