CNote

CNote

Invest in an economy that works for everyone

Invest in an economy that works for everyone

Overview

Funding data not publicly available
Platform

Self Managed

Start Date

02/25/2021

Close Date

Not Provided

Max. Goal
$46,597,305
Min. Investment

$1

Security Type

Debt

SEC Filing Type

RegA+    Open SEC Filing

Year Founded

2016

Industry

Financial & Insurance Products & Services

Tech Sector

Fintech

Distribution Model

B2B2C

Margin

Medium

Capital Intensity

High

Location

Oakland, California

Business Type

High Growth

CNote is raising funds independently through Reg A+ crowdfunding. The company operates an online platform that makes loans to CDFIs across the country. The CDFIs, in turn, make loans to underserved communities, and CNote earns by retaining the difference between the interest earned on CDFI loans and interest paid to its investors and noteholders. CNote currently has $24.3 million outstanding in loans and interest with CDFIs, with its loans outstanding doubling year-over-year. Catherine Berman and Yuliya Tarasava founded CNote in 2016. The current crowdfunding campaign has a maximum target of $46.6 million. The campaign proceeds will be used to fund loans to CDFIs through its platform.

Balance Sheet

Cash and Cash Equivalents

$1,585,689

Accounts and Notes Receivable

$26,578,715

Property, Plant and Equipment (PP&E)

$45,170

Total Assets

$28,209,574

Accounts Payable & Accrued Liabilities

$1,434,463

Long Term Debt

$29,682,911

Total Liabilities

$31,117,374

Total Stockholders' Equity

$-2,907,800

Total Liabilities and Equity

$28,209,574

Statement of Comprehensive Income Information

Total Revenues

$789,707

Costs & Expenses Applicable to Rev

$616,732

Depreciation and Amortization

$49,061

Net Income

$-376,894

Earnings Per Share - Basic

$-0.06

Earnings Per Share - Diluted

$-0.06

Auditor: dbbmckennon
Financials as of: 02/25/2021
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Raise History

Offering Name Close Date Platform Valuation Total Raised Security Type Status Reg Type
CNote 10/24/2024 Self Managed - - Debt Active RegA+

No prior online funding rounds.

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CNote on Self Managed 2021
Platform: Self Managed
Security Type: Debt

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