MainStreet focuses on commercial real estate loans. Investments made on the site have reached borrowers inOhio, Michigan, Pennsylvania, Georgia and Illinois, for loans secured on retail-centers and office buildings. "We have seen many new crowdfunding sites enter the space, but we feel real estate is still underserved. Our goal is to create a transparent crowdlending platform. We believe that by using an online underwriting interface, we can empower main street investors to finance credit-worthy real estate borrowers," says Patrick Janson, Co-Founder and Partner at MainStreet.
Investment duration is also a differentiator. While most other real estate crowdfunding platforms offer deals that have lengthy time horizons, MainStreet's average term is 6 to 12 months. Unlike equity deals, these crowdlending investments pay monthly and MainStreet sends direct ACH deposits.
MainStreet has formed a strategic alliance with Emerald Creek Capital, a private equity firm and commercial real estate lender. "This partnership provides MainStreet investors with access to institutional grade loans secured by prime income-producing real estate," says Jordan Trevino, Co-Founder and Partner at MainStreet. "We trust Emerald Creek Capital to provide great quality, low-leverage and diversified investment opportunities. They remain invested with our users, and they service and manage the loans. This is the best crowdlending opportunity on the market."
Lending technology is a key focus for the crowdlending platform. The team is working to allow borrowers to easily apply for real estate and business loans online via a proprietary algorithmic underwriting process. MainStreet anticipates being able to provide businesses with over $100 million in the first 12 months of product launch.
Patrick Janson and Jordan Trevino combine business and technology expertise. Patrick Janson spent five years as a senior member of an origination team that issued over $200 million in commercial real estate loans.He is also a graduate of the Flatiron School for Web Development. Jordan Trevino is a Yale graduate who spent six years advising fortune 500 companies as a management consultant. Both founders developed MainStreet Platform's technology.