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Direct Investment  + M&As  + Real Estate  |  June 13, 2024
Ready Capital Buys Guaranteed Loan Originator Madison One
Joe Palmisano
By: Joe Palmisano

Ready Capital Buys Guaranteed Loan Originator Madison One

Ready Capital Corporation, a multi-strategy real estate finance company that originates, acquires, finances, and services small-to-medium balance commercial loans, has acquired Madison One Capital, M1 CUSO, and Madison One Lender Services, a government guaranteed loan originator and servicer focused on U.S. Department of Agriculture (USDA) and SBA guaranteed loan products.

Financial terms of the transaction were not disclosed.

The acquisition will increase Ready Capital’s presence in USDA financing through programs that provide guaranteed loans to small businesses and rural energy projects.

Ready Capital is the fourth largest originator of SBA 7(a) loans to small businesses.

“The transaction is expected to generate more than $300 million of USDA volume annually, expanding our government-guaranteed small business offerings, while increasing the company’s gain on sale earnings,” said Ready Capital CEO, Thomas Capasse.

Madison One will operate as a subsidiary of Ready Capital using its current name and brand. Madison One’s team, led by managing directors Jason Bengert, Chris Balestrino and servicing director Lindsey Billings have also joined. The Madison One business line will be managed by ReadyCap Lending, reporting to Gary Taylor, ReadyCap Lending CEO.

New York-based Ready Capital specializes in loans backed by commercial real estate, including agency multifamily, investor, construction, and bridge.

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Inside The Story

Ready CapitalMadison One

About Joe Palmisano

Joe Palmisano is Editorial Director for Connect Money, where he brings nearly three decades experience of market insights as a financial journalist, analyst and senior portfolio manager for leading financial publications, advisory firms, and hedge funds. In his role as Editorial Director, Joe is responsible for the selection of content and creation of daily business news covering the financial markets, including Alternative Assets, Direct Investment and Financial Advisory services. Before joining Connect Money, Joe was a financial journalist for the Wall Street Journal, regularly publishing feature stories and trend pieces on the foreign exchange, global fixed income and equity markets. Joe parlayed his experience as a financial journalist into roles as a Senior Research Analyst and Portfolio Manager, writing daily and weekly market analysis and managing a FX and US equity portfolio. Joe was also a contributing writer for industry magazines and publications, including SFO Magazine and the CMT Association. Joe earned a B.S.B.A. in Finance from The American University. He holds the Chartered Market Technician (CMT) designation and is a member of the CFA Institute.
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