Kiavi, a provider of financing to real estate investors, has announced a company milestone – its surpassing of 50,000 funded bridge and fix-and-flip loans since its inception in 2013.
Citing property data powered by ATTOM, Kiavi is the first and only non-QM lender to real estate investors to achieve this milestone, company officials said.
“We are thrilled to reach this major milestone. Our customers have always been the heartbeat of our business and we are honored that they consistently turn to Kiavi for fast, simple, and reliable fix-and-flip financing,” Michael Bourque (pictured), CEO of Kiavi, said. “To us, this milestone is more than a number. We’re truly privileged to support so many customers’ important work of revitalizing aged homes across the nation,” he added.
Kiavi’s bridge and fix-and-flip loans provide short-term financing to REIs who purchase and rehab investment properties, company officials explained. The company has rapidly become one of the top destinations for REIs looking to buy, renovate, and sell a home due in part to its data and technology platform. Company officials said they use data from its 50,000 fix-and-flip transactions to power its machine-learning models, which help its customers make smart investment decisions. This platform also enables borrowers to close much faster than traditional financing options by eliminating time-consuming and extraneous elements of the lending process.
“It’s humbling to be the only lender in our space to fund 50,000 bridge and fix-and-flip loans,” said Stephanie Casper, Kiavi’s chief revenue officer, in a prepared statement. “This milestone is a testament to Kiavi’s leading data models and technology platform, as well as our team’s unwavering commitment to our customers. We remain dedicated to putting Kiavi’s data and capital to work to help each and every one of our customers live better through real estate.”