Bolour Associates is expanding its private lending business. The firm will be active in 16 states and Washington DC, and it expects to triple the size its private lending business and double its staff by the end of 2020. The move is an effort to diversify the business while taking advantage of the ample capital available in the market.

“We are expanding the lending platform for many reasons, but number one is the diversification of our platform and our portfolio,” Mark Bolour, CEO of Bolour Associates. “We are seeking growth through diversification, rather than growth in a centralized market, like California. We have access at this point to a tremendous amount of capital to lend, and while the capital is available, we don't want to concentrate it in one geographic area. We want to spread it.”

In addition to the internal growth goals driving the expansion strategy, Bolour says there is also increasing demand for private, alternative lending sources. “There is market demand for private lending, and that demand has been there since the financial crisis,” he says. At the same time, as we have grown, our internal strategy has been to create more diversification in our portfolio.” As that demand has remained steady, Bolour says this is a good time to expand the business.