New Way Homes

New Way Homes

A new, scalable solution for creating affordable and below-market-rate housing

A new, scalable solution for creating affordable and below-market-rate housing

Overview

Raised this Round: Raised: $506,656

Total Commitments ($USD)

Platform

Wefunder

Start Date

09/03/2020

Close Date

04/30/2021

Min. Goal
$100,000
Max. Goal
$1,070,000
Min. Investment

$100

Security Type

Debt

Series

Seed

SEC Filing Type

RegCF    Open SEC Filing

Year Founded

2015

Industry

Real Estate & Construction

Tech Sector

Non-Tech

Distribution Model

B2B

Margin

Low

Capital Intensity

High

Location

Santa Cruz, California

Business Type

Growth

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.

Summary Profit and Loss Statement

Most Recent Year Prior Year

Revenue

$405,014

$65,320

COGS

$0

$0

Tax

$810

$0

 

 

Net Income

$230,489

$-34,648

Summary Balance Sheet

Most Recent Year Prior Year

Cash

$238,658

$276,232

Accounts Receivable

$12,834

$0

Total Assets

$2,482,051

$1,675,845

Short-Term Debt

$96,633

$120,787

Long-Term Debt

$1,785,070

$1,185,200

Total Liabilities

$1,881,703

$1,305,987

Financials as of: 09/03/2020
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Raise History

Offering Name Close Date Platform Valuation/Cap Total Raised Security Type Status Reg Type
New Way Homes 11/20/2024 EquityVest - $369,250 Debt Active RegCF
New Way Homes 04/29/2021 Wefunder - $506,656 Debt Funded RegCF
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Revenue History

Note: Revenue data points reflect the latest of either the most recent fiscal year's financials, or updated revenues directly from the founder, at each raise's close date.

Employee History

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New Way Homes on Wefunder
Platform: Wefunder
Security Type: Debt

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Warning: according to the close date for this deal, New Way Homes may no longer be accepting investments.

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