Private Lending Industry Achieves Victory in Opposition to Florida Senate Bill

Legislation no longer imposes burden on private capital providers

AUSTIN, Texas–(BUSINESS WIRE)–lt;a href=”https://twitter.com/hashtag/legislation?src=hash” target=”_blank”gt;#legislationlt;/agt;–Private lending companies, industry groups and advocates successfully
challenged a Florida Senate Bill that would have limited the ability of
private lenders to provide capital to residential real estate developers
in the state.

SB
1730, legislation aimed at community development and housing
affordability, contained language that would have inadvertently made it
more difficult for real estate developers to obtain funding for
residential housing development. The bill was designed to sunset an
exemption allowing private lenders to easily provide project funding to
residential home builders and community developers. Had the legislation
passed, private lenders would have been required to obtain a mortgage
lender license to transact any loan secured by a dwelling.

Following a lobbying campaign by members of the American Association of
Private Lenders (AAPL) Government
Relations Committee, one of the industry organizations working to
advocate for private lenders in the residential real estate industry,
the companion House bill, HB 7103, which did not contain the
controversial language on mortgage licensing for private lenders, was
substituted for the original Senate version and passed last week.

“We support initiatives that would help ensure affordable housing across
the country,” said Chris Ragland, Chair of AAPL’s Government Relations
Committee and Chief Operating Officer of Noble
Capital, a private lending firm. “Unfortunately, SB 1730 could also
have affected housing in Florida by slowing the flow of capital and
creating additional obstacles for developers trying to obtain project
financing.”

“Any time one part of the capital equation has to absorb greater costs,”
said Romney Navarro, Chief Lending Officer of private lending company, Streamline
Funding, “that cost is likely to impact everyone involved, including
the home buyer.”

About Noble Capital

Noble Capital is a Texas-based alternative investment firm specializing
in private lending, retirement strategy and real estate. It has
developed unique approaches to wealth building and management, tailored
to the modern financial landscape. Its Funds are known for generating
substantial returns with a track record of consistently protecting
client principal. Noble Capital has built an extensive network of
private lenders and real estate professionals in Texas and is rapidly
growing its portfolio backed by the most stable real estate market in
the country. For more information, visit: www.noblecapital.com.

Contacts

Sean Harris
sharris@noblecapital.com
(512)
492-3814