Lender Prospectus

Radiance is under reconstruction for future use as a group assembly space.  We invite lenders wishing to support community to help us continue our efforts, by making short term loans to complete our reconstruction. A summary of the loan terms follow, please contact us at lender@radianceoak.com for more information.

Renovation Loan Terms Summary

Seeking Loans of $10,000-$200,000 for renovation of the Radiance Oak building.

Loans will be used to complete a renovation and seismic upgrade at Radiance Oak, in order to operate legally as a group assembly space. They do not entitle the lender to any appreciation or ownership in the property. Loan proceeds are not tax-exempt.

Project Cost: $550,000, $300,000 has been loaned or donated
Seeking: $250,000 in new loans or donations

Loan Terms: 5% Fixed Interest Rate
Interest-only payments for 5 years, then balloon payment of principal
Fund accounting and interest payments administered by an unpaid agent

Security: The renovation loans from all lenders will be pooled into a second position lien, with the property as security. In the event of a loan default, pooled lenders make majority rule decisions based on their relative amounts of loan funds.

Security Value: The property has an estimated value of $2.4 Million, with a current estimated equity of about $900,000.

Payments: Quarterly Payments for 5 years of Interest Only, beginning after 12 months to allow for project completion and commencement of operations. First 12 months’ interest is accrued quarterly, and will be added to principal amount. Loans extended after year 5 will be paid principal and interest quarterly.

Pre-payment: No penalty to borrower for early repayment.

Early Withdrawal: Emergencies may arise where a lender would like to have their funds returned prior to the maturity date. While Radiance Oak will not be obligated to replace a loan, every effort will be made to find a replacement loan in such emergencies.

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Disclaimer

This is not an offer to sell or a solicitation of an offer to buy securities. Statements in this presentation that are not descriptions of historical facts are forward-looking statements relating to future events, and as such all forward-looking statements are made pursuant to the Securities Litigation Reform Act of 1995. Statements may contain certain forward-looking statements pertaining to future anticipated or projected plans, performance and developments, as well as other statements relating to future operations and results. Any statements in this presentation that are not statements of historical fact may be considered to be forward-looking statements. Words such as “may,” “will,” “expect,” “believe,” “anticipate,” “estimate,” “intends,” “goal,” “objective,” “seek,” “attempt,” or variations of these or similar words, identify forward-looking statements.

These forward-looking statements by their nature are estimates of future results only and involve substantial risks and uncertainties, including but not limited to risks associated with the uncertainty of future financial results, additional financing requirements, development of new products, the impact of competitive products or pricing, technological changes, the effect of economic conditions and other uncertainties detailed from time to time in other reports or filings.
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Radiance Oak Operations site