Has anyone worked with Ready Capital?

searcher profile

January 13, 2025

by a searcher from Dartmouth College in New York, NY, USA

Received a strong SBA 7(a) financing term sheet from Ready Capital. They are requesting a $7k deposit before they continue their work, so I'm curious if they have a reputation for honoring their term sheets at transaction close. Or if they have a reputation for any type of shady business...

Thanks!

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commentor profile
Reply by a lender
from Eastern Illinois University in 900 E Diehl Rd, Naperville, IL 60563, USA
Concur with the above, they are legitimate. All lenders are going to require a deposit on SBA 7A loans. That deposit is typically refundable if they do not approve the loan or the deal falls apart. You would only be out any money you have had them spend on third party reports prior to approval.
commentor profile
Reply by a lender
from University of Southern California in Los Angeles, CA, USA
They are legit. I have brokered loans through them. Stronger with real estate deals.
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