Aileron Capital Management, LLC

What Aileron Capital Management, LLC does

Aileron Capital Management, LLC is a privately held, FINRA-registered broker-dealer and alternative investment firm headquartered in Tampa, Florida, founded in 2009 (originally as Aegis RE Partners, LLC). The firm operates two interrelated business verticals: specialty government-aided lending and direct real estate development. On the lending side, Aileron originates and pools SBA 504 loans, USDA Business & Industry loans, commercial bridge loans (typically $1M–$10M at 8–12% with 2–5% origination fees), mezzanine and preferred equity, and tax credit equity for historic, new markets, and solar projects. It is approved as an SBA Pool Originator since 2012 — described as the only non-bank lender to hold both Seller and Pool Originator status in the First Mortgage Lien Pool program — and as a USDA eligible lender since 2013.

On the development side, Aileron acts as developer and primary equity investor through subsidiaries including McGregor 325, LLC, focusing on multifamily, senior housing, and mixed-use projects in Florida and Southern California with total project costs between $10M and $50M and development cycles within 36 months. The company manages proprietary investment vehicles including Aileron Fixed Income Fund I, LLC (investing in SBA 504 first mortgage loans) and Aileron RE Opportunities Fund I, LLC (investing in high-yield senior stretch and mezzanine loans).

The go-to-market is relationship-driven and direct: Aileron works with entrepreneurs and small business owners unable to access traditional bank financing, sourced via a network of first-trust-deed lenders (Zions Bank, OneWest Bank, Noida Capital, Morgan Stanley) and Certified Development Companies (CDC Small Business Finance, Premier Capital, SomerCor). Revenue is generated through loan origination fees, ongoing interest and servicing on portfolio loans, tax credit equity returns, and episodic development gains (e.g., the $55M sale of Channelside Apartments in 2016). Since inception, Aileron reports closing more than $600 million in commercial loans, a development portfolio exceeding $200 million, and the creation of over 5,000 jobs across the U.S.

Name

Aileron Capital Management, LLC

Legal name

Aileron Capital Management, LLC

Website

https://aileroncap.com

Company type

Private

Founded year

2009

Operating status

Operating

Headcount range

1–10 employees

Short description

Aileron Capital Management is a Tampa-based, FINRA-registered non-bank specialty lender and real estate developer serving small businesses and developers nationwide through SBA 504, USDA B&I, bridge, and tax-credit-equity financing, plus direct multifamily and mixed-use development in Florida and Southern California.

Ownership category

akta.pro rank

Product category

Commercial Real Estate Lending

NAICS

Real Estate Credit (522292), Credit Intermediation and Related Activities (522), Funds, Trusts, and Other Financial Vehicles (525), Mortgage and Nonmortgage Loan Brokers (522310)

SIC

Mortgage Bankers & Loan Correspondents (6162), Short-Term Business Credit Institutions (6153), Investors, Nec (6799)

akta.pro primary industry

SBA/Government-Backed & Development Finance Loans (FSAKAGAI)

akta.pro secondary industries

Construction & Development (C&D) Lending — Commercial/Multifamily (FSALADAH), Real Estate Debt & Mortgage Strategies (FSAAAKAC)

Keywords

• SBA 504 lending
• USDA B&I loans
• Commercial bridge financing
• Tax credit equity
• Real estate development

Headquarters

HQ city

Tampa

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Supply Chain

Revenue model

1. Specialty Lending: Provides short-term bridge financing and long-term government-guaranteed loans (SBA 504, USDA B&I) for commercial real estate acquisition, construction, and recapitalization. Generates revenue through loan origination fees, interest income, and loan servicing.
2. Real Estate Development: Direct investment in real estate development projects including multifamily, senior housing, and mixed-use developments in Florida and California. Revenue generated through development fees, equity returns, and property sales.
3. Tax Credit Programs: Provides tax credit equity for historic, new markets, and solar energy projects. Acts as both senior lender and tax credit equity investor. For smaller transactions ($3-10 million), uses own capital. For larger transactions, partners with corporations, high net worth individuals, and banks.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels3 records

Core offering

Aileron Capital Management is a specialty lender and real estate developer that originates government-backed commercial real estate loans (SBA 504, USDA B&I, and EB-5/SBA 504 construction-perm loans) alongside short-term commercial bridge loans, mezzanine financing, and tax credit equity (historic, new markets, solar). The firm also acts as principal in direct real estate development of multifamily, senior housing, and mixed-use projects in Florida and Southern California, targeting projects with $10-50 million total cost.

Product overview

Aileron Capital Management is a diversified, opportunistic alternative investment firm that offers a comprehensive suite of lending and real estate development products. The core offerings include SBA 504 Loans and USDA B&I Loans for government-backed commercial real estate financing, Commercial Bridge Loans for short-term opportunistic acquisitions, Tax Credit Equity for historic rehabilitation and renewable energy projects, and Real Estate Development services for multifamily, senior housing, and mixed-use projects in Florida and California. The company also provides mezzanine financing and preferred equity as add-on products. Since its inception in 2009, Aileron has grown to become one of the largest non-bank lenders in the nation, providing over $500 million to entrepreneurs and small business owners.

Differentiator

Problem solved

Functional benefit

Products and services

• SBA 504 Loans Provides up to 90% loan-to-value financing for the acquisition, construction, or refinance of owner-occupied commercial properties. The structure combines a first mortgage loan, an interim second mortgage loan, and a permanent second mortgage loan funded by the SBA through a debenture offering. Loan amounts up to $12,000,000, terms up to 25 years, minimum 680 FICO, and DSCR thresholds of 1.20x (multi-use) or 1.25x (special-use). Rates start at 4%.
• USDA B&I Loans Provides up to 80% loan-to-value financing for the acquisition, construction, or refinance of commercial real estate located within USDA-eligible rural areas, supporting rural employment and economic conditions. Loan amounts up to $10,000,000, terms up to 30 years, 640 minimum FICO, 1.25x DSCR. Available in Florida, California, Georgia, Washington, Texas, Oklahoma, and Louisiana.
• Commercial Bridge Loans Senior debt bridge loans designed to help borrowers acquire or refinance commercial real estate assets at discounts to fair market value. Loan amounts from $1,000,000 to $10,000,000 (larger on case-by-case basis), terms up to 36 months, up to 75% LTV of appraised value, rates of 8-12%, 2-5% origination fee, no prepayment penalty, interest-only with balloon payment.
• Tax Credit Equity Provides tax credit equity for historic rehabilitation, new markets, and renewable energy/solar projects. For transactions of $3-10 million, Aileron uses its own capital. For transactions exceeding $10 million, Aileron partners with corporations, high net worth individuals, and banks. Acted as both senior lender and tax credit equity investor on the same projects.
• Real Estate Development Direct principal investment in acquiring, entitling, and developing multifamily (for-rent and for-sale), senior housing/assisted living, and mixed-use projects in Florida and Southern California. Focuses on projects with $10-50 million total cost that can be developed within 36 months.
• Mezzanine Financing and Preferred Equity Provides mezzanine financing and preferred equity for development projects in Florida and California, offering leverage up to 90% of total project cost (with 10% sponsor equity required). Term limited to 24 months, pricing determined case-by-case.
• EB-5/SBA 504 Construction-Perm Loan Platform Construction-permanent loan platform combining EB-5 foreign investment with SBA 504 financing, targeting ground-up construction and value-add commercial real estate opportunities. Aileron became one of the top hotel construction lenders in the nation, closing over $110 million in new construction loans in 2015.

Quantifiable outcome

• Over $600 million in commercial loans closed since 2010
• +2 more outcomes

Named customers12 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Three partnerships are on record, tiered core.

• CDC Small Business FinancecoreChannel Partner/ Reseller/ DistributorCertified Development Company providing SBA financing for 504 loans originated by Aileron.
• Premier CapitalcoreChannel Partner/ Reseller/ DistributorSBA financing partner providing CDC services for Aileron's SBA 504 loan program.
• SomerCorcoreChannel Partner/ Reseller/ DistributorSBA financing partner providing CDC services for Aileron's SBA 504 loan program.

Scale indicators12 records

Recent moves14 records

Expansion highlights6 records

Direct peers

• Live Oak Bank: Largest SBA lender in the United States, specializing in SBA 7(a) and 504 lending to small businesses. Highly comparable to Aileron's SBA 504 focus, though at much greater scale and with a depository charter.
• Celtic Bank: Top-tier SBA 504 lender with deep CDC relationships and government-backed lending expertise. Competes directly with Aileron in SBA 504 origination and pooling, and is among the few banks to operate as both Seller and Pool Originator.
• NewtekOne (formerly Newtek Business Services): SBA-preferred lender providing SBA 504 and 7(a) loans, small business financing, and electronic payment processing. Publicly traded alternative asset manager with similar mix of government-backed lending and fee-based services.
• Byline Bank: Chicago-based community bank with a focused SBA lending business, including SBA 504 programs through CDC partners. Competes with Aileron for SBA 504 originations, particularly on small-balance commercial real estate.
• Stearns Bank: Minnesota-based bank with one of the largest SBA 7(a) and 504 lending operations in the country. Directly comparable to Aileron in government-backed small business lending and SBA portfolio servicing.
• CDC Small Business Finance: One of the largest Certified Development Companies (CDCs) in the US, providing SBA 504 financing directly. Functions as both peer and channel partner to Aileron — comparable niche, similar borrower base, overlapping program expertise.
• SomerCor: Chicago-based CDC providing SBA 504 financing to small businesses. Operates in the same SBA 504 ecosystem as Aileron and is listed as a CDC partner, making it a directly comparable specialty government-backed lender.

Broad incumbents

• Ready Capital Corporation: Publicly traded mortgage REIT and small business lender with SBA, USDA, and commercial real estate lending programs. Overlaps with Aileron on government-backed lending but operates at materially greater scale across multiple verticals.
• The Bancorp Bank: Top SBA lender in the US and one of the largest SBA 504 originators. Competes broadly with Aileron in SBA 504, though with a much broader depository platform and institutional reach.
• Wintrust SBA Lending: Wintrust Community Advantage Lenders operates a significant SBA 504 and 7(a) lending program through multiple CDCs and community banking subsidiaries. Competes with Aileron in SBA 504 originations but as part of a much larger regional banking franchise.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Subsidiaries5 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 Aileron Capital Management, LLC