Ready Capital

What Ready Capital does

Ready Capital Mortgage Investment Trust is an Ontario-registered mutual fund trust founded in February 2019 by CEO Christine Xu, operating as a single-purpose investment vehicle that lends against Ontario real estate and distributes income to a base of 500+ investor accounts with a CAD $25,000 minimum subscription. The trust originates first-mortgage and bridge loans collateralized by Ontario properties — including private residences, multi-unit residential, holiday homes, industrial/commercial real estate, undeveloped land, and bridge loans — to borrowers who are typically unable to access conventional bank financing: self-employed individuals, new immigrants, those with poor credit histories, and cash-income earners.

The underlying business is asset-backed lending rather than a software product: the trust's stated competencies are mortgage risk management, borrower credit assessment, and property equity evaluation, with no proprietary technology platform. Operational mechanized capability is limited; the organization runs a lean 1–10 person team led by CEO Christine Xu (CEO/Trustee), Ron Cuadra (COO/Trustee), Ti Wang (Trustee), Michael Cuadra (VP Underwriting and Sales), and Robert Kligerman (Corporate Counsel). A three-person trustee approval committee operates on unanimous-consent governance. The trust is regulated by the Ontario Securities Commission (OSC) and Financial Services Regulatory Authority of Ontario (FSRA) with monthly NAV reporting and audited annual statements.

Revenue mechanics flow entirely through interest income on the originated mortgage book (CAD $216.5M cumulative origination through December 2025 yielding CAD $24.3M in cumulative investor interest at an average 65.85% LTV). The trust is required to distribute 100% of net profits to investors after year-end audit, retaining no earnings. Distribution is conducted exclusively through Belco Private Capital Inc., a designated Exempt Market Dealer with registered representatives across most of Canada. The company supports English and Chinese-language investor communications and runs an annual charity golf tournament (2022 inaugural, 2024 third iteration) as its principal community-marketing channel. The investor product offers 8%+ anticipated annual returns paid monthly (8.3%+ under a compound-interest option), with a 2- to 3-month redemption notice and a 3% early-redemption fee within year one.

Name

Ready Capital

Legal name

Ready Capital Mortgage Investment Trust

Website

https://readycapital.ca

Company type

Private

Founded year

2019

Operating status

Operating

Headcount range

1–10 employees

Short description

Ready Capital Mortgage Investment Trust is an Ontario-registered mutual fund trust that lends against Ontario real estate and distributes interest income monthly to 500+ retail investors at an anticipated 8%+ annual return, serving bank-ineligible borrowers on the origination side and accredited/eligible retail investors on the funding side.

Ownership category

akta.pro rank

Product category

Mortgage Investment Trust

NAICS

Open-End Investment Funds (52591), Mortgage and Nonmortgage Loan Brokers (522310)

SIC

Mortgage Bankers & Loan Correspondents (6162), Investors, Nec (6799)

akta.pro primary industry

Private Credit / Direct Lending (FSAAAHAG)

akta.pro secondary industry

Real Estate Funds — Core (Stabilized, Income) (FSANAEAF)

Keywords

• Mortgage investment trust
• Private mortgage lending
• Real estate secured lending
• Mutual fund trust
• Alternative investment products

Headquarters

HQ city

Markham

HQ country

Canada

HQ region

North America

Offices2 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Infrastructure, Others

Revenue model

1. Interest Income from Mortgage Loans: The trust generates revenue by originating and holding mortgage loans secured by Ontario real estate properties. All net revenue, after management fees, is distributed to investors monthly. The trust is required to distribute 100% of its profits to investors after year-end audit as a qualified mutual fund trust.

Pricing tiers

Go-to-market motion1 record

Distribution channels1 record

Marketing channels5 records

Core offering

Ready Capital Mortgage Investment Trust is a mutual fund trust registered in Ontario that originates and holds first mortgage loans secured by Ontario real estate properties, then distributes the resulting interest income to investors as monthly distributions. Investors subscribe to trust units with a minimum $25,000 CAD investment ($5,000 for Ontario residents), eligible for RRSP, TFSA, personal, and corporate accounts, receiving anticipated annual returns of 8%+. The trust also provides private mortgage financing to borrowers unable to qualify for conventional bank loans, including self-employed individuals, new immigrants, and those with credit challenges.

Product overview

Ready Capital Mortgage Investment Trust operates as a single unified product—a mortgage investment mutual fund trust. The core offering is the Ready Capital Mortgage Investment Trust, which provides Ontario-based mortgage lending services. The trust focuses exclusively on mortgage investments secured by real estate properties, offering anticipated annual returns over 8% with monthly distributions. The company does not operate a platform-plus-modules architecture; rather, it offers one integrated investment product along with corresponding mortgage lending services for borrowers.

Differentiator

Problem solved

Functional benefit

Quantifiable outcome

• 8.08% average annual return over 7 years, with total compounded ROI of 74.15%
• +2 more outcomes

Named customers2 records

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Nine partnerships are on record, tiered flagship, core and minor.

• Home Trust CompanyflagshipGTM or Marketing Partner · 25 July 2024Diamond Sponsor of the 3rd Annual Ready Capital MIT Charity Golf Tournament (July 2024) benefiting the Alzheimer Society of Canada. Also served as Diamond Sponsor of the 1st Annual tournament in 2022.
• EQ Bank / Equitable BankcoreGTM or Marketing Partner · 25 July 2024Platinum Sponsor of the 3rd Annual Ready Capital MIT Charity Golf Tournament (July 2024) benefiting the Alzheimer Society of Canada.
• Firm Capital OrganizationcoreGTM or Marketing Partner · 25 July 2024Gold Sponsor of the 3rd Annual Ready Capital MIT Charity Golf Tournament and Platinum Sponsor of the 1st Annual tournament. A real estate investment firm.
• Community TrustGTM or Marketing Partner · 25 July 2024Gold Sponsor of the 3rd Annual Ready Capital MIT Charity Golf Tournament. Also served as Gold Sponsor of the 1st Annual tournament.
• Mortgage ArchitectscoreGTM or Marketing Partner · 25 July 2024Gold Sponsor and Title Sponsor (MoneyBroker Canada - Mortgage Architects) of the 1st and 3rd Annual Charity Golf Tournaments respectively.
• FX168 Finance GroupminorGTM or Marketing Partner · 25 July 2024Gold Sponsor of the 3rd Annual Ready Capital MIT Charity Golf Tournament.
• Alzheimer Society of CanadaflagshipOthers · 19 July 2022Charitable beneficiary of Ready Capital MIT's annual golf tournaments. The 1st tournament in 2022 raised $15,000; the 3rd in 2024 raised $19,216 for Alzheimer's research and support.
• Royal Stouffville Golf CourseminorOthers · 19 July 2022Venue host for the 1st Annual Ready Capital MIT Charity Golf Tournament held on July 19, 2022.
• Belco Private Capital Inc.coreChannel Partner/ Reseller/ DistributorBelco Private Capital Inc. serves as the appointed Exempt Market Dealer (EMD) for Ready Capital Mortgage Investment Trust, distributing the fund through registered dealing representatives across most of Canada. This is the primary and exclusive distribution channel for the fund.

Scale indicators10 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Firm Capital Mortgage Investment Corporation: Publicly traded Canadian mortgage investment corporation (TSX: FC) that originates and manages a portfolio of mortgage loans, primarily in Ontario. Closest structural peer to Ready Capital MIT, operating at significantly larger scale.
• Timbercreek Financial Corp. Publicly traded Canadian mortgage investment corporation (TSX: TF) that provides custom-tailored financing solutions to real estate investors, including first mortgages and bridge financing in Ontario and other provinces. Directly comparable to Ready Capital's direct-lending model.
• Atrium Mortgage Investment Corporation: Publicly traded Canadian MIC (TSX: AI) focused on single-family residential mortgages in Canada, with a meaningful Ontario footprint. Same borrower niche (often self-employed and new Canadians) and similar core product offering.
• Romspen Mortgage Investment Trust: Canadian private mortgage investment trust that lends against commercial and residential real estate across Canada. While primarily commercial, comparable trust-structure and mortgage-focused investment mandate.
• XLY Mortgage Investment Corporation: Ontario-based mortgage investment corporation that originated and serviced first mortgages on Canadian residential properties. Most similar in product focus on Ontario residential mortgages to underserved borrowers.
• JLT Mortgage Investment Corp. Smaller Canadian MIC focused on Ontario residential mortgages, with similar geographic and product concentration to Ready Capital MIT.

Broad incumbents

• Home Trust Company: Canadian Schedule I bank and major alternative residential mortgage lender serving self-employed, new Canadian, and credit-challenged borrowers. Direct overlap with Ready Capital's borrower segment at much larger institutional scale; also a Ready Capital charity-tournament sponsor.
• Equitable Bank / EQ Bank: Canadian Schedule I bank specializing in alternative residential mortgages and insured deposit products. Competes for the same underserved borrower pool and is also a Ready Capital tournament sponsor.

Regional players

• CMLS Group: One of Canada's largest independent commercial mortgage lenders, providing construction, bridge, and interim financing across the country. Comparable in lending activity but focused on commercial rather than residential mortgages.

Others

• Mortgage Architects: Canadian mortgage brokerage network. Adjacent rather than directly competitive—Mortgage Architects is a channel/distribution partner of Ready Capital and operates as a broker rather than as a fund or direct lender.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• YouTubeyoutube.com/channel/UCMEe4-m9ZHLrSb9bgkmnh7Q/videos
• Facebookfacebook.com/profile.php
• LinkedInlinkedin.com/company/ready-capital-mit
• Instagraminstagram.com/readycapitalmit

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Ready Capital