Street Capital is “suspending its Alternative Lending business effective immediately.”
“Like other lenders, the capital markets environment has just not been one that makes it viable for us to continue to go forward in that segment,” says CEO, Ed Gettings.
The company says it will “fulfill all contractual obligations on existing alternative lending commitments.”
Once the credit markets become a little less tumultuous Street Capital will look at getting back into the alternative lending space. For now, however, they’ll focus on their prime insured business, which Gettings says is doing “doing quite well and getting great market response.”