Second Street Capital seeks to expand its building operations

PRESS RELEASE

July 18, 2013

Fort Lauderdale, Florida - Second Street Capital, Inc. 

 

Second Street Capital, Inc. (CTON), a specialty real estate finance company, today announced that the company is looking to partner with an established homebuilder.

?We are currently talking with several homebuilders that have survived what has been the worst housing recession in over eighty years, about becoming a public homebuilder,? commented CEO Kyle Meyer.  ?Having a homebuilder as a partner will provide us with a ?boots on the ground? prospective of the housing market and the underwriting and funding challenges that homebuilders are facing today.  By increasing our asset size the combined companies will have greater access to the capital markets, which in turn should allow us to take advantage of the current ?pent-up demand? for both housing and project financing.

Second Street Capital, Inc., a publicly traded company (CTON) is a specialty finance company, providing revenue participation loans to small and medium size homebuilders.  Headquartered in Fort Lauderdale, Florida, the company helps facilitate the flow of capital to community based homebuilders and developers to support job growth, share prosperity and increase the local tax base.  The Company?s investment philosophy is to target unique residential housing projects that are being under-served by traditional banks and other large financial institutions. 

Certain information included in this press release may contain forward looking information that is subject to certain risks, trends and uncertainties that could cause actual results to differ materially from expected results.  Among these risks, trends and uncertainties are SSCI?s ability to raise capital, risks associated with SSCI?s new business plan, national and local economic conditions, including conditions in the homebuilding and construction industry, conditions and trends in the real estate industry in general, changes in interest rates and other factors.