By: KeyCrew Media
We Lend, a New York-based private lender, has announced the closing of a $20 million bank line of credit with Webster Bank, a development the company says will expand its lending capacity and improve pricing for real estate borrowers across the East Coast.
The facility brings the company’s total managed capital to more than $150 million across the entire capital stack. Webster Bank’s recently announced acquisition agreement with Banco Santander is expected to bring additional future liquidity to the arrangement, with the combined institution giving We Lend access to international capital and expanded long-term resources.
According to Ruben Izgelov, CEO of We Lend, the immediate impact of the new credit line is a meaningful reduction in the company’s cost of capital, a benefit it intends to pass directly to borrowers.
“This enables us to be a lot more competitive on rate and on origination,” Izgelov said. “It also expands the asset classes we’re able to fund.”
Previously concentrated on one-to-four unit residential properties, We Lend is now positioned to finance multifamily and mixed-use developments, ground-up construction, and heavy construction projects, including vertical and horizontal extensions.
“We Lend has demonstrated a level of underwriting discipline and market expertise that gives us strong confidence in this relationship. Their focused approach to the East Coast market, combined with the quality of their loan book, made this a straightforward decision for Webster. We look forward to supporting their growth,” says Leo Goldstein, Sector Head, Real Estate Lender Finance, Webster Bank.
Expanding into complex and construction lending
The company also specializes in complex situation lending, stepping in on distressed deals where borrowers may be facing foreclosure, navigating partner disputes, or managing stalled projects. In those cases, We Lend provides capital to restructure existing arrangements and give borrowers a viable exit path.
We Lend operates with a fully in-house loan approval process, meaning borrowers deal directly with the team’s own credit committee rather than waiting on external investor sign-offs. The company’s equity base consists largely of committed capital from long-term personal relationships, an arrangement that Izgelov says creates both accountability and speed.
“Because it’s friends and family capital, we cross every T and dot every I,” he said. “And because the decision is ours to make, borrowers know we can move quickly.”
A deliberate focus on the East Coast market
The company’s geographic focus remains the East Coast, with particular depth in New York and New Jersey. Izgelov says that concentration is deliberate. Knowing the local markets, sponsors, and assets intimately allows the team to evaluate credit risk with a level of granularity that a nationwide lending model cannot replicate.
With the new Webster Bank facility now closed, We Lend says it is focused on scaling its origination volume and deepening its position in the East Coast market.
For more information, visit welendllc.com.
Disclaimer: This article is for informational purposes only and does not constitute investment advice. Nothing contained herein should be construed as a recommendation or solicitation to buy or sell any financial instrument or investment product. Readers should conduct their own due diligence and consult qualified financial and legal advisors before making any investment decisions. We Lend is not a registered investment advisor.
