Asset Based Lending Achieves Unprecedented Growth with 60% Loan Increase in 2024
In an impressive show of growth, Asset Based Lending (ABL), a prominent lender based in New Jersey, has reported a remarkable 60% increase in the number of loans funded in 2024 compared to the previous year, totaling 1,866 loans. This significant achievement showcases the company's robust approach to private capital lending tailored for real estate investors. The year not only marked an extraordinary financial milestone but also witnessed ABL expanding its workforce by 15%, pointing to a thriving operational environment.
Joseph Viganola, the Head of Sales at ABL, attributes this success to the firm's strategic sales initiatives, operational advancements, and an unwavering commitment to enhancing the customer experience. Viganola emphasized the crucial importance of establishing genuine partnerships with borrowers, regardless of whether they are newcomers or longstanding clients. “This essential dynamic has propelled us to where we are today,” he remarked.
In 2024, ABL significantly broadened its geographical reach, initially expanding operations into Texas, followed by California, aimed at supporting investors in high-potential markets across the country. Towards the end of the year, ABL crowned this growth spree with the inauguration of a second headquarters in Cherry Hill, New Jersey, which is expected to enhance access to experienced talent and bolster core operational functions further.
One of the standout moments for ABL was the completion of its second securitization within two years, marking a significant industry precedent. The structure, ABL 2024-RTL1, represented a formidable $175 million ground-up construction package, a testament to ABL’s established proficiency and authority within the sector.
Looking ahead to 2025, ABL is poised for continued progress as it seeks to increase its sales force. The plan includes providing enhanced support for loan officers and integrating marketing automation into its technology arsenal to boost team productivity and refine both borrower and partner experiences.
As ABL continues to break new ground, stakeholders and interested parties can follow the company’s journey on its LinkedIn page. Established in 2010, Asset Based Lending has quickly become a trusted name in the industry, facilitating swift bridge financing for real estate investors involving single-family, multi-family, and mixed-use properties. The firm has, to date, closed over $2.6 billion in loans, demonstrating its dedication to meeting the diverse financing needs of its investors. For more detailed insights into ABL’s offerings and strategic vision, visit their official website.
This upward trajectory signifies not just growth in numbers but also a commitment to creating synergistic relationships with borrowers and adapting to market demands, ensuring ABL remains a key player in real estate financing well into the future.
Joseph Viganola, the Head of Sales at ABL, attributes this success to the firm's strategic sales initiatives, operational advancements, and an unwavering commitment to enhancing the customer experience. Viganola emphasized the crucial importance of establishing genuine partnerships with borrowers, regardless of whether they are newcomers or longstanding clients. “This essential dynamic has propelled us to where we are today,” he remarked.
In 2024, ABL significantly broadened its geographical reach, initially expanding operations into Texas, followed by California, aimed at supporting investors in high-potential markets across the country. Towards the end of the year, ABL crowned this growth spree with the inauguration of a second headquarters in Cherry Hill, New Jersey, which is expected to enhance access to experienced talent and bolster core operational functions further.
One of the standout moments for ABL was the completion of its second securitization within two years, marking a significant industry precedent. The structure, ABL 2024-RTL1, represented a formidable $175 million ground-up construction package, a testament to ABL’s established proficiency and authority within the sector.
Looking ahead to 2025, ABL is poised for continued progress as it seeks to increase its sales force. The plan includes providing enhanced support for loan officers and integrating marketing automation into its technology arsenal to boost team productivity and refine both borrower and partner experiences.
As ABL continues to break new ground, stakeholders and interested parties can follow the company’s journey on its LinkedIn page. Established in 2010, Asset Based Lending has quickly become a trusted name in the industry, facilitating swift bridge financing for real estate investors involving single-family, multi-family, and mixed-use properties. The firm has, to date, closed over $2.6 billion in loans, demonstrating its dedication to meeting the diverse financing needs of its investors. For more detailed insights into ABL’s offerings and strategic vision, visit their official website.
This upward trajectory signifies not just growth in numbers but also a commitment to creating synergistic relationships with borrowers and adapting to market demands, ensuring ABL remains a key player in real estate financing well into the future.
Topics Financial Services & Investing）
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