Irvington, NY X-Caliber Capital, a national, direct commercial real estate lender, launched its newest company, X-Caliber Rural Capital, a licensed U.S. Department of Agriculture (USDA) lender that will offer its growing, diverse borrower base access to unique loan programs with attractive terms designed to support a wide scope of assistance to rural businesses.
Under the USDA’s OneRD Guarantee Loan Initiative, X-Caliber Rural Capital will provide financing for rural business and economic development projects under four flagship programs:
- Water and Waste Disposal Guaranteed Loan Program;
- Community Facilities Guaranteed Loan Program;
- Business and Industry Guaranteed Loan Program; and
- Rural Energy for American Guaranteed Loan Program.
Co-founder Jordan Blanchard, has been named executive manager of X-Caliber Rural Capital and will lead the daily business and operations. Blanchard has over 30 years of experience in Small Business Administration (SBA) and USDA lending and is the current president of National Rural Lenders’ Roundtable.
During his successful career, Blanchard helped develop the nation’s number one USDA lending program and created funding for over $1B of USDA and renewable transactions. Overall, he has been involved in $2B of financing under various forms of government guaranteed loan programs.
X-Caliber Capital president and CEO and X-Caliber Rural Capital co-founder, Chris Callahan, said, “This new platform is a natural fit for X-Caliber Capital’s commitment to bringing its clients diverse lending solutions while improving the quality of life and economic development in rural areas. With Jordan’s proven track record and having him at the helm of the ship, we expect this platform to become a core part of our business model and look forward to building out our pipeline.”
“X-Caliber Rural Capital will bring borrowers unique and attractive terms for clients looking for longer-term lending solutions while also providing notable benefits to those businesses and groups that are located in rural areas designated by the USDA programs,” said Blanchard. “I am truly pleased to be a part of the X-Caliber Capital brand and team and I look forward to helping strategically grow this business to new and impactful levels.”
The USDA defines rural as any town, village, city, or other population center with a threshold of 50,000 or less and not contiguous with another populated area. Depending on the program, loan sizes will range between $250,000 and $100 million and will be available for new construction, acquisition, and refinance transactions. USDA loans are guaranteed by the U.S. Department of Agriculture and lenders must receive special licensing to provide the programs.
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