Ponte Vedra-based construction lending fintech sees revenue soar
When Ponte Vedra Beach resident Lee Kaplan started investing in real estate years ago, he wasn't making the profit he expected — in part because of cost overruns.
Kaplan’s initial foray into the industry began in 2014 as a traditional residential construction lender. In 2021,he retooled the company as a fintech platform that promotes three simple steps: fund, build, manage. As well as funding construction, the platform manages the project budget and directly pays subcontractors and suppliers.
“We lend money to builders to allow them to build quicker, more efficiently and with accountability,” Kaplan said. “Our software controls the builds. What happens is, we lend money, that builder submits everything through our system, andpay everything directly. So we’re never directly giving money to the builder, although the builders are accountable for it.”
Austin, Texas has emerged as a prime locale. Kaplan recently opened a second office there, employing a staff of two.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
EXCLUSIVE: Governor Hobbs looks to 'build' with affordable housing planOn her first full day as the new Governor of Arizona, Katie Hobbs rolled up her sleeves with a day of service and shared how she plans to prioritize affordable housing in Arizona.
Read more »
Naf Naf: A Build-Your-Own Mediterranean AdventureThe new Naf Naf Mediterranean Grill in McKinney is the epitome of “choose-your-own-adventure,” with a completely customizable menu that offers diners the opportunity to build a meal from scratch. There’s something liberating about choosing your own base, proteins, toppings and sauces and then getting to taste your creation afterward. Good...
Read more »
Ship taller than Eiffel Tower will build biggest offshore wind farmThe newly built 'jack-up' ship Voltaire is now sailing from China to Europe, where it will drop its 130 metre-long legs to the seabed off the coast of northern England and get to work building the world's largest offshore wind farm
Read more »
Stocks close higher, snap 2-day losing streak as Wall Street shakes off Fed minutesStocks closed higher Wednesday as investors looked past Fed meeting minutes that showed the central bank will remain aggressive in its policy to tame high inflation. The Dow gained 0.40%. The S&P 500 popped 0.75%. The Nasdaq rose 0.69%.
Read more »
Stellantis to build U.S. firm Archer's air taxi, up stakeCarmaker Stellantis will help build Archer Aviation's electric aircraft and increase its stake in the U.S. company, the two firms said on Wednesday, driving Archer's shares up nearly 17%.
Read more »
Jeep-Maker Stellantis to Build Flying Taxis With Archer AviationStellantis, the auto maker that owns Jeep, Ram and other well-known car brands, has struck a deal with Archer Aviation to help it build an electric flying taxi at a factory in Georgia
Read more »