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SOURCE: Eastern Capital, LLC
With limited conventional funding available for commercial real estate transactions, most commercial real estate projects have all but hit a brick wall. This is especially true for many of the nations minority / ethnic commercial markets where both the language barrier and lack of assets simply add to the long list of reasons why conventional lending requests are being denied. To answer this current void in the market, the Board of Directors at Eastern Capital has proudly embarked on an initiative to partner with leading ethnic groups across the country.
Atlanta, GA (PRWEB) October 06, 2012
Eastern Capital, LLC found on the web at Eastern-Cap.com, proudly announced its new partnership today with key players in the domestic Asian commercial real estate markets. Eastern Capital has already ventured into many major commercial projects in the industrial, hospitality, retail and mixed use sectors. New business activity in these areas has resulted in substantial community revitalization's and the creation of many new jobs in those revitalized communities.
The new partnership, named Eastern Capital, LLC-Atlanta, will be responsible for SBA Loans (7-A & 504), bridge financing, and Loan Originations nationwide utilizing the immense marketing network created by both Mr. Song and Mr. Sung. This comes at a perfect time for Eastern Capital.
About the New Partners of Eastern Capital, LLC
Song, Sung and their very experienced team of lending professionals will focus on growing the SBA Lending Group for Eastern Capital, LLC at the firms Atlanta, GA Office.
By professional practice Song & Sung have been focused on market development and are considered experts by their peers, as due diligence specialists. With over forty years of combined experience in the commercial real estate & corporate finance world, they also have an in-depth understanding of institutional, angel, and third-party investment strategies which will enhance Eastern Capital, LLC's presence in the SBA Lending Arena.
Young C. Song has earned both entrepreneurial and corporate achievements during his nearly 20 years of experience in the corporate and financial world. During this time, Mr. Song has very been involved in successfully funding over $300 million dollars of SBA guaranteed financing for his clients. Additionally, Mr. Song has held senior level executive positions with Kingyoo Americas, Sure Funding Group, Challenge Financial Corp, YPN Enterprises, Hometown USA Car Wash Development, Suncoast Real Estate & Investment Group.
Steve Sung has extensive financial experience with both SBA and conventional loans of approximately 60 million dollars. Steve organized, established and served on the board of directors of the Tomorrow Bank, during that time gaining a vast amount of knowledgeable regarding the FDIC Regulations and money management. Steve founded the “Donut King Franchising Company,” and established “A-Co Food International and A-Co Restaurant Equipment International.” Steve is a Commercial Real Estate Broker with over 100 real estate transactions including land sale, shopping centers, hotels, and various types of businesses. Additionally, Steve was a senior executive in the development and management of commercial real estate property of approximately 2MM square foot fashion mall, DongDaeMoon USA, LLC.
"Growing the economy is everyone's responsibility. Making funding available for all types of commercial projects to a diverse group of borrowers, including many ignored ethnic groups, is what Eastern Capital is all about. We can and will continue to do our part in the rebuilding of our nation, one private commercial loan at a time. Our entire team is looking forward to and very much anticipating a very long relationship with both Mr. Song & Mr. Sung and consider this new partnership to be a great asset to Eastern Capital, LLC," says the Board of Directors at Eastern Capital, LLC.
Paying careful attention to the economy and the needs of today’s commercial borrowers, Eastern Capital has carefully crafted its lending programs and guidelines to be conducive to getting its clients commercial real estate projects rapidly funded and underway, rather than flounder and fizzle out in the underwriting process. This streamlined, fast-track lending approach has resulted in stellar praise from many Eastern Capital clients which could not get answers elsewhere.
Even better, Eastern Capital plans to expand it’s offerings by making several more unique Private commercial lending programs available in the near future and by being ahead of the game in regards to it’s technology, make sense underwriting and streamlined due-diligence process.
When it comes to getting a commercial real estate project funded in today’s economy, Eastern Capital can’t be beat.
You can learn more about Eastern Capital, LLC at eastern-cap.com or by calling (855) 505-0508
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