Constitution Lending Partners with Sila to Revolutionize Hard Money Lending | Business

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PORTLAND, Oregon & DELRAY BEACH, Florida – (BUSINESS WIRE) – Jul 21, 2021–

Sila Inc., a fintech software platform that provides payment infrastructure as a service, today announced that Constitution loan Partners, the leading hard money lender for all types of properties, chose Sila as a strategic partner to achieve their vision to democratize access to mortgage lending opportunities and to provide a better, more transparent lending experience for borrowers.

The founders of Constitution Lending set out to democratize access to real estate debt for normal investors. Their aim was to enable individuals to invest in asset classes which, until recently, were reserved for hedge funds and other institutional investors. They quickly realized that in order to do this they needed to quickly familiarize themselves with all of the laws and ordinances governing the highly regulated payments industry in the United States, as well as find a banking partner who would take charge of a small increase and up-coming business. .

“Without Sila, this part of our corporate history could easily have lasted for years and cost us hundreds of thousands of dollars in legal and other fees,” said Ricardo Sims, Founder and CEO of Constitution Lending. “Sila not only understood all of these requirements and integrated them into a complete payment platform available as a service; they are also a banking agent, which allows us to stay completely out of the flow of funds. “

“We are proud to support innovative companies like Constitution Lending by providing payment infrastructure as a service,” said Shamir Karkal, co-founder and CEO of Sila. “Our vision is similar in that we seek to reduce barriers to entry for people with good ideas on how to change what is possible in regulated industries such as finance, real estate and business. igaming to name a few. “

While many financial regulations apply at the federal level, most states have their own set of rules that businesses must follow. Ricardo added: “It was essential for our success not to make mistakes or suffer from poor supervision when starting the business. “

“Time is money,” Karkal said. “That’s why Sila has put a lot of effort into creating a powerful and comprehensive payment infrastructure solution. And in cases where additional capacity is required, our customers can easily connect to our vast network of partners united in our fintech market. “

About the constitutional loan

Constitution Lending is an alternative credit and investment origination platform founded in 2019 to make life easier for borrowers and generate higher risk-adjusted returns for investors. For more information, visit https://constlending.com/.

About Sila

Sila is a fintech software platform that provides payment infrastructure as a service, an essential component for all businesses that need to integrate with the US banking system and blockchain quickly, securely and in full compliance with the American regulations. Sila offers banking, digital wallet and ACH payment APIs for software teams. Sila is headquartered in Portland, Oregon. For more information, visit www.silamoney.com.

View source version on businesswire.com:https://www.businesswire.com/news/home/20210721005193/en/

Sila: Ty Beckmann, ty @ silamoney.com, 415-867-6508 Constitution Lending: [email protected], 203-423-3534

KEYWORD: UNITED STATES NORTH AMERICA FLORIDA OREGON

INDUSTRY KEYWORD: CONSTRUCTION & REAL ESTATE SOFTWARE FINANCE BANKING PROFESSIONAL SERVICES REIT TECHNOLOGY OTHER CONSTRUCTION & REAL ESTATE

SOURCE: Sila Inc.

Copyright Business Wire 2021.

PUB: 07/21/2021 11:05 AM / DISC: 07/21/2021 11:06 AM

http://www.businesswire.com/news/home/20210721005193/en

Copyright Business Wire 2021.


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