crowdfunding Archives - Ignite Funding

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Aurora Ocala, LLC #5077 | FLORIDA – FUNDED

Aurora Ocala, LLC #5077 | FLORIDA – FUNDED

The collateral for this loan is an approximately 22-acre site that will be entitled to allow for the construction of a 272-unit apartment building. This parcel of land is located within a larger planned unit development consisting of over 200 acres that will be developed into over 1,000 single family homes and nearly 300 multi-family units. This loan is collateralized by all the multi-family land associated with this development which will consist of 11, three story garden style walk-up buildings directly across from the new $6.5mm Nature Preserve Park. Each unit will average nearly 1,000 square feet in size and rent for over $1,400 each. Loan Amount: $2,600,000 Yield: 11% (Principal Balance ≥ $100,000); 10.5% (Principal Balance < $100,000) Interest is paid monthly in arrears with payments due on the 1st of each month with a 10-day grace period. Term: Nine months with an optional nine-month extension at maturity.

By Izzy|June 1st, 2021|Funded Investments|0 Comments

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Mosaic Seven, LLC #5071 | NEVADA – FUNDED

Mosaic Seven, LLC #5071 | NEVADA – FUNDED

The properties consist of 7.5 acres of land which was purchased by the borrower in 2016 from the Bureau of Land Management. Since that time, the borrow has gone through many different rounds of negotiations with the county over land use to get the property rezoned. The property has a rural subdivision approval which allows for the development of 13 homes. It is anticipated that the property will receive the final map approval within the next few months at which point the borrower will sell the property to a local homebuilder. The borrower will also paydown $500,000 of the loan amount after the property with APN ending in -009 is refinanced. Master Loan Amount: $2,450,000 Tranche Loan Amount: $1,950,000 for tranche 5072 and $500,000 for tranche 5073 Yield: 10.0% Interest is paid monthly in arrears with payments due on the 1st of each month with a 10-day grace period. Term: Nine months with an optional nine-month extension at maturity.

By Izzy|April 30th, 2021|Funded Investments|0 Comments

KD Commerce L.L.C., #4404 – NEVADA – FUNDED

First Trust Deed collateralized by two fully developed residential lots located on the Northeast corner of West Centennial Parkway and North Commerce Street in North Las Vegas. These two lots are within a larger 134 lot community, of which almost 100 have been sold to end users. The two lots have permits submitted to build a duplex, one unit on each lot. Each unit will be two stories and have a two car garage. The unit on the APN ending in -057 will be 2,296 square feet and the unit on the APN ending in -058 will be 2,314 square feet. Each will be three bedrooms with two baths. Loan Amount: $437,000 Yield: 10.25% (Principal Balance ≥ $100,000); 10% (Principal Balance < $100,000) Interest is paid monthly in arrears with payments due on the 1st of each month with a 10-day grace period. Term: 6 months with an optional 6 month extension at maturity.

By Mike Mahony|May 25th, 2017|Funded Investments|0 Comments

KD Commerce L.L.C., #4402 – NEVADA – FUNDED

First Trust Deed collateralized by two fully developed residential lots located on the Northeast corner of West Centennial Parkway and North Commerce Street in North Las Vegas. These two lots are within a larger 134 lot community, of which almost 100 have been sold to end users. The two lots have permits submitted to build a duplex, one unit on each lot. Each unit will be two stories and have a two car garage. The unit on the APN ending in -055 will be 2,314 square feet and the unit on the APN ending in -056 will be 2,296 square feet. Each will be three bedrooms with two baths. Loan Amount: $437,000 Yield: 10.25% (Principal Balance ≥ $100,000); 10% (Principal Balance < $100,000) Interest is paid monthly in arrears with payments due on the 1st of each month with a 10-day grace period. Term: 6 months with an optional 6 month extension at maturity.

By Mike Mahony|May 12th, 2017|Funded Investments|0 Comments

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Yousef, LLC #4338 | CHICAGO – FUNDED

Yousef, LLC #4338 | CHICAGO – FUNDED

First Trust Deed collateralized by three fully leased commercial buildings in and around Chicago, Illinois. The borrower has owned the properties starting in 1983 and plans to continue to own them for the foreseeable future. All of the properties are currently leased to US Autos, APEX Inc., and Midwest Allergy, respectively with an average duration of the leases through the middle of 2018. It is the intent of the borrower to pay off this loan through the refinance of the properties once more conventional bank financing is available. Loan Amount: $1,650,000 Yield: 10.00% (Principal Balance < $100,000); 10.25% (Principal Balance ≥ $100,000) Interest is paid monthly in arrears with payments due on the 1st of each month with a 10-day grace period. Term: Twelve months with an optional six month extension at maturity.

By Mike Mahony|August 19th, 2016|Funded Investments|0 Comments