Mortgages for Good
Early Stage
Mortgage brokerage services for first-time homebuyers
Overview
Raised: $0
Total Commitments ($USD)
Platform
Microventures
Start Date
02/23/2023
Close Date
04/19/2023
Min. Goal
$25,000
Max. Goal
$300,000
Min. Investment
$100
Security Type
Convertible Note
Series
Seed
SEC Filing Type
RegCF
Valuation Cap
$3,000,000
Discount
0%
Rolling Commitments ($USD)
Status
Not Funded
Reporting Date
04/19/2023
Days Remaining
Not Funded
% of Min. Goal
Not Funded
% of Max. Goal
Not Funded
Likelihood of Max
Not Funded
Avg. Daily Raise
$0
Momentum
Not Funded
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Year Founded
2021
Industry
Financial & Insurance Products & Services
Tech Sector
Fintech
Distribution Model
B2C
Margin
High
Capital Intensity
Low
Mortgages for Good, with a valuation of $3 million, is raising funds on MicroVentures. The company provides mortgage brokerage services for first-time homebuyers in underserved communities. The business connects homebuyers and lenders using its key connections within the residential real estate market. Mortgages for Good reached its loan origination volume of $8 million in its first operating year in 2022. Chris Perry founded Mortgages for Good in August 2021. The current crowdfunding campaign has a minimum target of $25,000 and a maximum target of $300,000. The campaign proceeds will be used for a new office, payroll, marketing, branding, and working capital.
Summary Profit and Loss Statement
| FY 2022 | FY 2021 | |
|---|---|---|
|
Revenue |
$199,542 |
$0 |
|
COGS |
$2,494 |
$0 |
|
Tax |
$494 |
$0 |
| ||
| ||
|
Net Income |
$2,354 |
$-9,044 |
Summary Balance Sheet
| FY 2022 | FY 2021 | |
|---|---|---|
|
Cash |
$31,556 |
$40 |
|
Accounts Receivable |
$0 |
$0 |
|
Total Assets |
$33,443 |
$835 |
|
Short-Term Debt |
$836 |
$11,366 |
|
Long-Term Debt |
$60,000 |
$0 |
|
Total Liabilities |
$60,836 |
$11,366 |
Financials as of: 02/23/2023
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