SLS Tutorial Video

Beginning on May 15, 2023, we will be implementing a couple of changes. As you know, there have not been monthly payments on our loans in the past. Unfortunately, current economic circumstances have required us to introduce a couple of changes to our loan terms, and monthly payments is going to be one of them.

As some of you may have experienced, there have been several periods over the last year when we did not have enough funds available to close your loans in a timely manner. We want to make sure that we always have access to enough capital to be able to finance all of your loans in a timely manner.

To solve our access to capital problem, we are working diligently to foster relationships with new capital providers. However, in the current economic climate, those with capital are making the rules, and if we’re going to continue to be a reliable source of capital for all of your deals, we’re going to need to conform to the requirements of those folks with the capital available. The two changes that we will be implementing on May 15th, 2023, are; required monthly payments on the 15th of each month, and interest accruals to be calculated on the entire loan amount, not just the funded amount.