X-Caliber Capital has launched a new lending platform focused on U.S. Department of Agriculture loans for commercial real estate projects, Commercial Observer has learned.
The commercial real estate lender’s new company called X-Caliber Rural Capital is aimed at providing financing to businesses and economic development projects located in rural areas of the country. Loan sizes will extend up to $100 million for new construction, acquisition and refinance transactions.
Jordan Blanchard, president of National Rural Lenders Roundtable, will serve as executive manager of X-Caliber Rural Capital leading daily business and operations. He has more than 30 years of experience in Small Business Administration (SBA) and USDA lending.
“X-Caliber Rural Capital will bring borrowers unique and attractive terms for clients looking for longer-term lending solutions while also providing notable benefits to those businesses and groups that are located in rural areas designated by the USDA programs,” Blanchard said in a statement. “I am truly pleased to be a part of the X-Caliber Capital brand and team and I look forward to helping strategically grow this business to new and impactful levels.”
Blanchard, who co-founded the platform with X-Caliber Capital CEO Chris Callahan, has created funding for over $1 billion of USDA and renewable transactions throughout his career. He has been involved in more than $2 billion of financing under various forms of government guaranteed loan programs.
Loans under the USDA’s OneRD Guarantee Loan Initiative fall under the Water and Waste Disposal Guaranteed Loan Program; Community Facilities Guaranteed Loan Program; Business and Industry Loan Guaranteed Program; and Rural Energy for American Guaranteed Loan Program. The USDA defines rural as any town, village, city, or other population centers with 50,000 or less population and not contiguous with another populated area.
“This new platform is a natural fit for X-Caliber Capital’s commitment to bringing its clients diverse lending solutions while improving the quality of life and economic development in rural areas,” Callahan said in a statement. “With Jordan’s proven track record and having him at the helm of the ship, we expect this platform to become a core part of our business model and look forward to building out our pipeline.”
Andrew Coen can be reached at firstname.lastname@example.org.