At 12/31/2009, HCCA completed it's first full fiscal year of operation. Despite continued instability in the credit markets, and a struggling U.S. economy, the Company has continued to thrive in this challenging marketplace. During the past 16 months, HCCA funded approximately $60 million in multi-family and small commercial loans. The 27 transactions respresented a variety of Borrowers and Lenders, property types, and property locations.
The Company's most significant goals in 2009 were to increase loan production and to build our Lender base. Both of these goals were accomplished during the year. Loan origination growth can partly be attributable to time and focus spent on implementing effective marketing strategies,. However, the growth was primarily due to good old-fashioned "pounding the pavement" on the part of our loan originators, and the addition of key personnel, Marc Lipsett and Michelle Li, both of whom were dedicated to generating new business.
HCCA continued to be the top broker for an active wholesale lender based in Southern California, and in 2009 was a major funder for a large wholesale lender in the Bay Area. As we begin the New Year, we are optimistic that we will continue to see an upward trend in HCCA fundings, which we project will increase by 15-25% in 2010. Additionally, the company plans to expand its staff in an effort to move towards the goal of being a full-service real estate company. which will serve both the small commercial and single-family real estate markets. We are starting the year with a healthy pipeline of approximately $50MM, and we are confident that many of these transactions will be moved through the pipeline and funded.
At HCCA, our commitment to our clients remain stronger than ever. Our staff is dedicated to assisting both Borrowers and Lenders with their investment allocations. We are confident in our ability to work in this marketplace, and as the market recovers, HCCA will be poised to assist its clients with all opportunities that arise.
