New Way Homes
[Closed for Investment] New Way Homes, a scalable solution for creating affordable housing, is raising crowdfunding on Wefunder. The company focuses on developing below-market-rate houses, including workforce, supportive, and other discounted and financially sustainable houses. Sibley V. Simon founded New Way Homes in 2015 and has raised over $3.9 million since its inception. The proceeds of the current crowdfunding round, with a minimum raise of $100,000 and a maximum raise of $1,070,000, will be used to pay for some pre-development expenses and fund the design and planning permit approval of the next six projects. New Way Homes has already started construction on its first 19 homes and has over 300 homes in permitting.
Investment Overview
Raised: $506,656
Deal Terms
Total Commitments ($USD)
- Platform
- Wefunder
- Start Date
- 09/04/2020
- Close Date
- 04/30/2021
$100,000
$1,070,000
$100
Debt
Seed
RegCF
4.25%
10.0 years
Company & Team
Company
- Year Founded
- 2015
- Industry
- Real Estate & Construction
- Tech Sector
- Distribution Model
- B2B
- Margin
- Low
- Capital Intensity
- High
Financials
- Revenue +520% YoY
- $405,014
- Monthly Burn
- Profitable
- Cash on Hand
- $238,658
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