MainStreet, a mortgage investment company in New York, has launched a crowdfunding site for lending and investing in commercial real estate.
The lending platform is designed to allow borrowers to directly apply for loans, MainStreet said in a press release Friday. The company expects to provide over $100 million in business lending over the next 12 months.
“We believe that by using an online underwriting interface, we can empower main street investors to finance credit-worthy real estate borrowers,” said Patrick Janson, a co-founder at MainStreet, in the release.
Additionally, the platform offers investment opportunities with average durations of six to 12 months.