For example: MortgageRamp gains entry to Allied's small business community clients. Allied wins a ticket to sell a mix of products to MortgageRamp's established commercial real estate client base.
"This agreement allows MortgageRamp to go above and beyond only handling real estate loans," MortgageRamp's CEO Michael Greco says in a prepared statement.
MortgageRamp's entire philosophy is based on giving clients faster and more complete service than anyone else in the industry, a factor that Greco didn't overlook in forming the relationship.
"Allied Capital Express has been one of the leading small business lenders for over 40 years and their loan programs have been designed to offer fast and decisive credit approval," Greco's statement says.
Doyle Spears, MortgageRamp's chief marketing officer, tells GlobeSt.com the alliance "brings a different facet to the business than what our site (www.mortgageramp.com) offers today."
The reason, Spears says, is that MortgageRamp is "always looking for new opportunities in the real estate financial services arena and, more importantly, in the real estate finace industry."
In a prepared statement, Joan Sweeney, chief operating officer of Allied Capital Express, says her company will be looking to test MortgageRamp's technological expertise. "They have leveraged their knowledge of lending with the newest technologies to offer exceptional commercial real estate services," Sweeney's statement says.
Allied Express makes small business loans up to $3 million, often tied in with guaranteed loans from the Small Business Administration. The company's parent, Allied Capital Corp. trades on the Nasdaq, manages over $1.5 billion in total assets, and has a staff of 140 professionals in offices in Chicago, San Francisco, Philadelphia, New York, Detroit, Atlanta, Indianapolis, Idaho, New Hampshire and South Carolina.
MortgageRamp receives strong sponsorship and financial backing from GMAC Commercial Mortgage and has relationships with leading commercial lenders such as Deutsche Bank Mortgage Capital, Swiss Capital Partners and Archon Financial.
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