$2,000,000 of Unsecured Social Investment Term Notes Series A
This information is not an offer to sell which can only be made via study of the complete Offering Memorandum
The unsecured term notes offered the offering memorandum have NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR THE SECURITIES LAWS OF ANY STATE OF THE UNITED STATES. Potential investors should consult their attorney regarding this summary of the Offering Memorandum and/or the Offering Memorandum.
Investors in these notes should have very strong social investing motivations and be willing to accept variations in repayment from the planned terms
The Fund currently intends to focus its efforts primarily on no income, very low and low-income emergency and affordable housing and to take reasonable actions incidental to its mission including owning such housing for its own account. There is a great need for these types of housing in the Upper Valley of Vermont and New Hampshire. The Upper Valley Lake Sunapee Regional Planning Commission has estimated that 5,000 units of housing are needed in the Upper Valley. A recent survey found there were more than one hundred homeless people in the Upper Valley. Social service agencies estimate that there a great many people who are shelter “insecure” in our area which seems reasonable given that 15 to 17 percent of people in our states live in poverty. The Fund intends to more intensely use the land and buildings of existing properties in its area.
The Fund was approved as a nonprofit organization by the Internal Revenue Service in March 2014.
The Founder, Paul P. Tierney, 76, has material experience with starting and managing enterprises including Landmark Bank in Lebanon NH and serving on nonprofit boards including 25 years on the Board of Listen Community Services.
The New Hampshire Attorney General’s Office has approved the use of these notes. This type of notes is provided for under Federal Securities and New Hampshire regulations.
This plan embodies a large number of significant “RISKS” which are set forth in the Offering Memorandum in more detail. “RISKS” are reasons the Fund could fail. Anyone considering making an investment in these social notes should carefully consider those risks.
The Fund is currently developing its website which will be the primary vehicle for offering these notes. The Fund will also solicit donations primarily through its website and contacts of directors.
This Summary is intended to provide people with some bits of information.