CrowdFunding Beat News Desk , NEW YORK, Sept. 12, 2014 /PRNewswire/ — MainStreet Lending Platform (MainStreet) announces the launch of its lending and investing platform, www.MainStreetPlatform.com. The new crowdlending site makes real estate investing simple. It gives investors access to commercial real estate opportunities, while providing loans for borrowers.
MainStreet focuses on commercial real estate loans. Investments made on the site have reached borrowers in Ohio, Michigan, Pennsylvania, Georgia and Illinois, for loans secured on retail-centers and office buildings. “We have seen many new crowdfunding sites enter the space, but we feel real estate is still underserved. Our goal is to create a transparent crowdlending platform. We believe that by using an online underwriting interface, we can empower main street investors to finance credit-worthy real estate borrowers,” says Patrick Janson, Co-Founder and Partner at MainStreet.
Investment duration is also a differentiator. While most other real estate crowdfunding platforms offer deals that have lengthy time horizons, MainStreet’s average term is 6 to 12 months. Unlike equity deals, these crowdlending investments pay monthly and MainStreet sends direct ACH deposits.
MainStreet has formed a strategic alliance with Emerald Creek Capital, a private equity firm and commercial real estate lender. “This partnership provides MainStreet investors with access to institutional grade loans secured by prime income-producing real estate,” says Jordan Trevino, Co-Founder and Partner at MainStreet. “We trust Emerald Creek Capital to provide great quality, low-leverage and diversified investment opportunities. They remain invested with our users, and they service and manage the loans. This is the best crowdlending opportunity on the market.”
Lending technology is a key focus for the crowdlending platform. The team is working to allow borrowers to easily apply for real estate and business loans online via a proprietary algorithmic underwriting process. MainStreet anticipates being able to provide businesses with over $100 million in the first 12 months of product launch.
Patrick Janson and Jordan Trevino combine business and technology expertise. Patrick Janson spent five years as a senior member of an origination team that issued over $200 million in commercial real estate loans. He is also a graduate of the Flatiron School for Web Development. Jordan Trevino is a Yale graduate who spent six years advising fortune 500 companies as a management consultant. Both founders developed MainStreet Platform’s technology.
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SOURCE MainStreet Platform LLC