The recent closing of a $20 million bank line with Webster Bank represents institutional validation of New York-based private lender We Lend's underwriting standards and loan book quality, according to CEO Ruben Izgelov. The facility, secured after rigorous due diligence, provides third-party endorsement of We Lend's credit practices at a time when external assessment of private lenders' portfolios remains challenging. Webster Bank's decision carries additional significance given its recently announced merger with Santander Bank, which could bring international liquidity and expanded future capacity to the relationship.
Leo Goldstein, Sector Head of Real Estate Lender Finance at Webster Bank, stated that We Lend has demonstrated underwriting discipline and market expertise that gave the bank strong confidence in the relationship. The company's focused approach to the East Coast market, combined with the quality of its loan book, made this a straightforward decision for Webster. This institutional validation comes as We Lend's portfolio now totals over $150 million across the capital stack.
Practically, the new facility reduces We Lend's cost of capital, enabling the company to compete more aggressively on rates and origination fees against institutionally backed lenders that have historically held pricing advantages. This cost compression directly benefits borrowers while allowing We Lend to expand its lending scope beyond traditional one-to-four unit residential properties to include multifamily and mixed-use assets, ground-up construction, and heavy construction projects. The company maintains its East Coast focus with concentrated operations in New York and New Jersey markets where the team's direct knowledge enables sharper credit judgment.
Despite this institutional backing, Izgelov emphasizes that We Lend maintains its entrepreneurial approach with fully in-house loan approval processes. This structure avoids the external investor committees and institutional sign-off chains that characterize larger competitors, allowing the company to move quickly in time-sensitive real estate transactions. With the new bank line established, We Lend appears positioned to scale its originations while preserving the flexibility and relationship-driven approach that defines the company. More information about the company is available at https://welendllc.com.
