Renovare Development

Renovare Development

A woman-owned company focused on real estate development with a purpose.

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Security Type
Debt
Categories
Real Estate
Location
DETROIT, MI
Expected Close Date
September 15, 2022
Target Raise
$75.00K-$250.00K
No. Investors
35
Security Price
$1
Website
renovaredevelopment.com
Number of Employees
2
Cash
$259,488
Revenue
$17,007
Short Term Debt
$0
Cost of Goods
$61,411
Long Term Debt
$45,446
Net Income
$-44,404

Company Description

Renovare Development is raising funds for their operations -- and to move their $88 million pipeline of six development to closing in 2022 and 2023. In return for a 5-year commitment, each investor will receive a promissory note offering a 10% annual return. Payments will begin on July 1, 2023, when Renovare plans to pay the first year of interest that has accrued. After this first payment, quarterly principal and interest payments are planned and any outstanding investment balances will be repaid at the end of 5-years.Show Less

Key Deal Facts

Renovare Development is raising funds for their operations -- and to move their $88 million pipeline of six development to closing in 2022 and 2023. In return for a 5-year commitment, each investor will receive a promissory note offering a 10% annual return. Payments will begin on July 1, 2023, when Renovare plans to pay the first year of interest that has accrued. After this first payment, quarterly principal and interest payments are planned and any outstanding investment balances will be repaid at the end of 5-years.Show Less
Amount Raised : $75,000
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Security Description

Debt is something, usually money, borrowed by one party from another. Debt is used by many corporations and individuals to make large purchases that they could not afford under normal circumstances. A debt arrangement gives the borrowing party permission to borrow money under the condition that it is to be paid back at a later date, usually with interest.

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