Byron Clark
Cincinnati, OH (USA)
Role(s):
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Startup
Location:
Cincinnati
Industry:
Finance
Year Founded:
2007
Number Employees:
INVALID
Description:
We will be the online marketplace matching commercial real estate projects with funding. Company is in the startup/launch stage. Lender advantages: projects meet criteria, increased closure rate, exposure to higher volume of borrowers, reduced sales & underwriting staff. Borrower benefits: more competitive quotes, credit market influences minimized, larger lender pool, backup lenders close quicker. Target market: CMBS lenders, value-add property owners, equity investors. Business model: no fee to borrower, borrower pays 3rd party fees, fee paid by lender on loan close. Will operate with staff of two, using outsourcing for for everything except marketing and sales. Seeking $290,000. Projected NOI: Yr 1=-$235k, Yr 2 = $867k, Yr 3 = $1.4M **IRR over 5 yr hold = 30% **