Asset Based Lending is committed to delivering the best experience for our borrowers by striving to be the most reliable and trusted hard money lender in the country. To help achieve this goal, we are proud to announce the promotion of several staff into partnership and executive roles, along with the launch of ABL’s new rental loan program and the return of ABL’s Zero-Point Loan program.
We’ve built our brand around the values of service, transparency, and reliability during our first 10 years in business – backed them up with action time and again during the pandemic – and will continue to build on these core values for years to come.
Eric Krattenstein, Chief Marketing Officer and Head of Sales, and Adam Cohen, Chief Financial Officer, were both promoted to Partner. Michael Basciano, Head of Operations, was promoted to Executive Vice President. The three, with a combined 16 years at ABL, have joined the Firm’s Operating Committee with also includes Co-Founding Partner Daniel Leyden and Managing Partner Kevin Rodman.
“We’re all very excited for this next phase of ABL’s growth, and confident that we have the team, products, and strategy in place to further solidify our reputation as the East Coast’s most trusted hard money lending partner,” said Krattenstein. “We’ve built our brand around the values of service, transparency, and reliability during our first 10 years in business – backed them up with action time and again during the pandemic – and will continue to build on these core values for years to come.”
We started 2021 with a revamped rental loan program, adding term lending options to our suite of direct-lending programs. Bringing these loan products in house allows us to offer better pricing, streamlined service, and a singular point of contact for the entire lifecycle of a loan from purchase and renovation through refinance. These rental loans are for 1-4 family properties with loan maximums up to $3 million or $6.25 million for portfolio loans. Interest rates start as low as 4.25% with no personal income verification and a variety of options including 30-year amortizing, adjustable, and interest-only terms.
Additionally, we brought back our zero-point loan option for short-term fix and flips, new construction, and cash out refinances. The zero-point loan option was suspended during the pandemic, but our growing success and unique capital structure has allowed the return of this borrower favorite. ABL’s zero-point loans have no pre-payment penalties or exit fees and are the only true zero-point hard money loan available to real estate investors.
Thanks to the continued trust and support of our borrowers, ABL is ready to continue growing throughout 2021 and beyond and maintain our position as your hard money lending partner.