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Noble Capital Releases 2013 Year End Financials
Noble Capital, the premiere private lending network in Texas, has released its 2013 year end loan production, revenue, and net income results of 2013 with comparison over 2012. The following are some of the highlights:
1) Ended the year with a total portfolio of $31.57MM over 114 loans, a 184% increase over 2012 in total loan volume.
2) Ended the year with an increase in revenue of 159% over 2012.
3) Ended the year with an increase in net income of 746% over 2012.
"While our total revenue increased by a substantial rate, we are seeing dramatic increases in our net income. This was a direct result of our efforts to retire previous debt, and efficiencies gained from our technology platform" Grady Collins, CFO for Noble Capital.
Noble Capital serves as the loan servicer for the privately funded loans which are originated by its subsidiary Streamline Funding, the premier hard money mortgage broker, and originates high quality loans that fit into stringent underwriting guidelines. These first lien trust deed notes are written for 6-36 months and generate up to a 10% interest return to participating lenders.
"Our loan portfolio continues to grow as we add new loan officers and new markets to our program. We expect to see this growth rate continue into 2013" Romney Navarro, VP Lending for Streamline Funding.
While the 2013 financial numbers for Noble Capital looked very strong, Chief Operating Officer Chris Ragland projects 2014 to be even better.
"We have set ambitious goals for 2014. We have the platform, technology, people, and business processes to achieve those goals. We expect to see an increase in demand for our product as we continue to raise additional capital with Lenders in our Private Lender Network."
For more information about Noble Capital and its private lender network, please visit http://NobleCapital.com.
About Noble Capital: About Noble Capital: Noble Capital was formed in 2004 to service & manage lender relationships. The Noble Capital Private Lender Network is an informal group of individuals who fund short term first lien mortgage loans serviced by Noble Capital through borrowers provided by Streamline Funding. The mission of Noble Capital is to be Texas' premiere Private Real Estate Lending Platform, providing quality lending opportunities to members of our Private Lender Network.