"Nittany Ct Rehab Project"
Proposal Example 1 - Nittany Court
Nittany Court is an old day care being transformed for residential living. This will be the first transaction on the Valorem Foundations platform and will serve as an example of the kinds of things Valorem is able to accomplish. Improving local communities, adding value.
This day care is currently two levels and has a large property surrounding it. The loan will be posted on Valorem Foundations Platform, once the platform is live. Once fully funded, an escrow agent locally will pay off existing liens, perform the document preparation and record everything in the local judicial courthouse. After that, construction can begin.
Once completed, the property will have legally been rehabbed via Valorem Foundations Platform. The borrower, Val Kleyman will be responsible for making timely payments to the Valorem Platform, the same as he would any bank. Valorem in turn will provide distributions to all those who funded the loan. Similarly, in Phase 2, the funding of the project, can also be as a Business Investment. Once the project will be posted, equity may be split as well.