RCN Capital, LLC

June 15, 2015 12:00 ET

RCN Capital® Announces New Streamlined Approval Process

Private Lender Issues Commitment Letters in as Little as 48-Hours

SOUTH WINDSOR, CT--(Marketwired - Jun 15, 2015) -  RCN Capital®, a leading nationwide private lender, has introduced a new, simplified approval process that allows the company to issue commitment letters in as little as forty-eight hours.

The innovative new process requires borrowers to provide two initial documents: a signed application and a borrower authorization form giving RCN Capital the authority to run a credit report and a background check. A loan officer will review the documents, discuss the scenario with the borrower and be able to issue a Letter of Interest within the same day.

Borrowers need only return the signed Letter of Interest with an appraisal authorization form to RCN Capital for a loan to go to final review. Once the loan is approved, a commitment letter is issued. With borrower cooperation, the whole process can be completed in as few as forty-eight hours.

"One of the main reasons why borrowers choose RCN is because we have the ability to close in as few as ten business days," said Jeffrey Tesch, Managing Director of RCN Capital. "However, we wanted to make things even faster and easier. Having the ability to issue a commitment letter in as little as two business days is a game changer."

RCN Capital's new approval process went into effect June 15, 2015.

About RCN Capital

RCN Capital® is a national, direct private lender. Established in 2010, RCN provides short-term commercial loans ranging from $50k to $2.5M+ to fund the purchase of non-owner occupied residential and commercial properties, provide bridge loans, and provide real estate-backed lines of credit. RCN lends to experienced real estate investors, commercial contractors and small business owners throughout the country.

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