ICG10 Capital Funds $100MM in Private Money Loans: CEO Warren Ifergane Sees Even More Growth

In a big win when most firms are struggling due to COVID-19 shutdowns, ICG10 Capital has capitalized on the market uncertainty by funding $100MM in 2019, and is on track to beat that in 2020.

“Throughout the pandemic, I’ve been fortunate to use ICG10 for my fix-and-flips. I made the mistake of using a couple other lenders for some other deals, and they fell through. Most other lenders are shut down during this time,” says Gary M.

ICG10 Capital has quietly dominated the space, beating most Fintech and hedge fund firms on a cost-capital basis. With lower rates, and higher leverage, ICG10 funds 90% of purchase prices plus 100% of renovation costs. This means some deals are effectively funded at 95% loan-to-cost — an abnormally high leverage in the industry.

But above all, it is their speed that has turned them into a juggernaut — most deals funding within 2 weeks. This allows investors to make cash-like offers on rentals and flips without the worry of losing their deal to an all-cash buyer.

“Our rental program has become a fast-growing segment of our company. With rates in the 5s and 6s, there’s tremendous appetite for it. Closing long-term loans in 2 weeks, with no tax requirements, no income verification, and closing in company names provides huge benefits to borrowers — compared to going for more traditional routes,” adds Warren Ifergane.

ICG10 Capital is shooting for $200 million in loans this year. More information can be found at https://icg10.com/

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About ICG10 Capital

ICG10 Capital is the leading private lender for residential real estate investors. Fast funding and competitive terms is what separates them from competitors in the market.