The recent closing of a $20 million bank line with Webster Bank represents more than just additional capital for New York-based private lender We Lend. According to CEO Ruben Izgelov, the facility serves as institutional validation of the company's underwriting standards and loan book quality, which now totals over $150 million across the capital stack. "When a bank like Webster underwrites us, they are not just giving us capital – they are validating the quality of our loans," Izgelov said. This validation carries significant weight in private lending, where external assessment of a lender's portfolio can be challenging. Webster Bank's decision to extend the facility followed rigorous due diligence, effectively providing third-party endorsement of We Lend's credit practices. The bank's recently announced merger with Santander Bank adds further dimension to the relationship, potentially bringing international liquidity and expanded future capacity.
Leo Goldstein, Sector Head of Real Estate Lender Finance at Webster Bank, noted that "We Lend has demonstrated a level of underwriting discipline and market expertise that gives us strong confidence in this relationship. Their focused approach to the East Coast market, combined with the quality of their loan book, made this a straightforward decision for Webster." 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.
Despite this institutional backing, Izgelov emphasizes that We Lend maintains its entrepreneurial approach. The company's loan approval process remains fully in-house, avoiding the external investor committees and institutional sign-off chains that characterize larger competitors. "Borrowers appreciate that we can move quickly and make decisions that others wouldn't be able to," Izgelov explained, noting that this speed represents a genuine differentiator in time-sensitive real estate transactions. The company's East Coast focus remains central to its strategy, with concentrated operations in New York and New Jersey markets where the team's direct knowledge of sponsors, assets, and local conditions enables what Izgelov describes as sharper credit judgment. "You're a jack of all trades, master of none if you're lending everywhere," he noted. "We'd rather master one market."
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. For East Coast borrowers with complex capital needs, this combination of institutional credibility and entrepreneurial speed may represent a compelling alternative in the current lending landscape. More information about the company is available at https://welendllc.com.
