We started Sidewalk Lending with the housing affordability crisis that faces America today in mind. After the 2008 Global Financial Crisis, the real estate market was in shambles, and new housing starts fell to their lowest levels since the U.S. Census Bureau started keeping track in the 1950s. Even still, homebuilders are in process of recovering and new builds have not recovered enough to meet demand. On top of that, America’s houses are getting old, with over 55% of today’s homes built prior to 1955. Add all of that to the COVID-19 pandemic and historically low mortgage rates, and you have quite a cocktail for housing prices.
With this backdrop in mind, Sidewalk finances projects that feed the middle class. As folks move out of high-cost coastal markets, we focus our lending to help fuel housing supply in the “attainable” housing markets. Gateway cities that offer growing employment opportunities, have favorable population demographics, that address the needs of everyday Americans. We want to lend to developers who share this goal and seek to build lasting partnerships that work for both sides.
Sidewalk and its capital partner have extensive experience lending and managing fix-n-flip & ground up construction loans. We have experience managing more than $400 million in loans, nationwide, to date. Sidewalk is a direct lender, so you can count on us for certainty of funding. We have been a trusted partner to our borrowers throughout the last year and look forward to building upon those relationships in the years to come.