"This new capital raise will enable the company to expand its lending capacity and better serve customers in this challenging environment. By aligning with builders and providing them with the capital they need to continue building new homes, Builders Capital is helping fuel the recovery of the housing market and aid in providing much needed new home inventory," said Rob Trent, CEO of Builders Capital. "Recent economic conditions have been a roller coaster for the housing market and Home Builders, but the need for new home inventory combined with the recent tightening from regional banks, provides an incredible opportunity for us at Builders Capital to help our customers and continue our exponential growth."
Zonda's New Home Pending Sales Index noted new home sales rose 1.0% month-over-month in an April 2023 report and Builder Confidence has been steadily on the rise after bottoming out in late 2022. "A good sign heading into spring and summer, and a clear indication that homebuyers are eager to purchase new homes and builders are eager to fill the void," said Trent.
The exact number of new homes needed to meet demand is debatable, but most industry experts believe it to be somewhere between 4 and 6 million. This significant gap in supply, coupled with mortgage rates that have more than doubled in the past year, is contributing to a real affordability challenge hitting most markets and builders need access to capital to help build our way out of this problem. "Builders Capital has always filled an important gap in the market for home builders, but now more so than ever before," said Curt Altig, Chairman and Founder. "As our customers know, our mission is to be the Builder's Most Valued Relationship in all that we do. Securing a reliable capital partner is a critical need for builders, which is why we continue to raise and deploy capital at a torrent pace to ensure we're there for our clients when other lenders retreat."
About Builders Capital
Builders Capital is the nation's largest private construction lender, offering innovative financing solutions to a wide spectrum of developers and builders. Loan products include options for Acquisition, Development, Construction, and Bridge financing, in the form of single asset loans, portfolio loans, and revolving credit facilities. In addition to financing opportunities, Builders Capital borrowers can leverage national accounts for material purchase discounts, and access cutting edge technology for project management, accounting, and BIM technology tools. Builders Capital is headquartered in Puyallup, Washington, with regional sales offices across the country. The management team at Builders Capital brings over 100 years of expertise in residential construction lending, home building, real estate development, and loan servicing.
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SOURCE Builders Capital
| Contact: |
| Company Name: Builders Capital
Karen Lewis, karen.lewis@builders-capital.com |
