Sachem Capital is a Connecticut-based real estate finance company that originates, underwrites, and manages short-term, first-lien mortgage loans — commonly called "hard money loans" because they are underwritten primarily on the value of real estate collateral rather than borrower creditworthiness. Sachem's typical borrower is a real estate investor or developer who needs fast, flexible capital to acquire, renovate, or develop residential or commercial property and cannot access traditional bank financing. Loans typically carry 1-to-3-year terms, are interest-only with a balloon payment at maturity, and are originated at roughly 12% interest and a 2% origination fee, with LTV capped at 70% of fair market value. Sachem's loan portfolio consists of 115 loans totaling ~$377M in gross principal, weighted toward residential (~54%), with commercial (~29%), mixed-use (~12%), and land (~5%) rounding out the rest. Sachem is geographically concentrated along the eastern seaboard, primarily in Connecticut, Florida, Massachusetts, and New York. Sachem earns revenue from interest income and fees, and profits from the spread between its loan yields and its cost of capital. Beyond core lending, Sachem holds a 20% stake in Shem Creek Capital, a commercial real estate finance platform focused on multifamily and industrial properties, and operates Urbane New Haven, an in-house construction and development platform. Sachem is structured as a REIT, requiring it to distribute at least 90% of taxable income, making external capital access essential for portfolio growth.