American Lending Center, X-Caliber Rural Capital Continue Support For Rural Projects
A partnership between X-Caliber Rural Capital and American Lending Center took a step forward in early September by closing a $100 million bridge loan to support development of a next-generation geothermal project in Utah.
X-Caliber Rural Capital owns XRL-ALC, LLC, which offers conventional construction financing for projects located in “micro-rural areas.” While American Lending Center (ALC) can only provide up to 30 percent of the total project cost, it provided much of this bridge loan, much like previous projects completed in partnership with X-Caliber. This is the largest X-Caliber-ALC deal to date.
“Our relationship with Jordan (Blanchard, cofounder of X-Caliber Rural Capital) goes back 15 or 16 years,” said John Shen, ALC’s founder and CEO. “We’ve collaborated. I have a lot of trust in Jordan. We have the same passion to create opportunities for rural development.”
Blanchard became an expert in public-private financing partnerships early in his career, focusing first on the Small Business Administration’s SBA 504 loan program, launching his own firm in 2011. He also was consulting for ALC at the time.
Before launching X-Caliber Rural Capital in 2021, Blanchard turned his focus to Energy and Infrastructure lending at Live Oak Bank, quickly becoming expert in the USDA Rural Energy for America Program. That program provides U.S. Department of Agriculture loan guarantees of up to 80 percent of a loan.
“I have a background in government-guaranteed lending,” Blanchard said. “ALC has always gone through a lead lender, and we perform all the things necessary to generate the loan… This is not the first time we’ve worked together. We’ve done lots of projects; this just happens to be the largest one.”
Earlier this year, Blanchard created XRL-ALC, LLC, known as XRA, specifically to handle loans with ALC as a partner.
“We could see loans worth up to $500 million by the end of 2025,” Blanchard said. “That’s doable, with some stretch. There are some large projects in the pipeline.”
ALC has participated in several rural area construction projects since 2022, including several rural hospitals and high-tech indoor farming facilities. Shen said partnering with X-Caliber has been mutually beneficial.
While the ALC partnership through XRA relies primarily on USDA loan guarantees, Blanchard said he and Sunstone Investment Group CEO John Keisler are discussing other options for future urban infrastructure projects.
About XRL-ALC, LLC
XRL-ALC, LLC (XRA), is an affiliate of X-Caliber Rural that offers conventional construction financing for commercial real estate and infrastructure projects located in “micro-rural areas.” XRA loans can be part of a larger capital stack including USDA OneRD financing, CPACE, New Markets Tax Credits, and senior secured debt. Micro-rural areas are generally described as an area with a population of less than 20,000 and not part of a Metropolitan Statistical Area. The Company is dedicated to creating attractive solutions for its borrowers that meet the needs of micro-rural communities throughout the country.
About American Lending Center: A Financial Times (FT) Americas’ Fastest Growing Company
American Lending Center (ALC) supports U.S. economic growth and job creation by financing development across the country.
Since its inception in 2009, ALC has proudly provided over $1.65 billion in loans and investments to thousands of companies of all sizes, empowering them to grow and thrive. Over this time, we have helped create and/or retain more than 100,000 jobs in the American economy.
In 2022, ALC launched its new rural construction and development fund, with capital available for the construction of fixed assets of all types in rural areas, including manufacturing, energy, infrastructure, hospitality, specialty use, multi-use, and other project types. Follow American Lending Center on LinkedIn, Facebook, and Twitter.
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