New Way Homes

A new, scalable solution for creating affordable and below-market-rate housing
Analytics
Raised to Date: $292,324
Aggregate Commitments $
Wefunder
09/04/2020
04/01/2021
$100,000
$1,070,000
$100
Debt
RegCF
Seed
Weekly Commitments $
Active
01/17/2021
73
292%
27%
$2,165
114
Santa Cruz, California
Real Estate & Construction
Non-Tech
B2B
Low
High
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 |
$0 |
Total Liabilities |
$1,881,703 |
$1,305,987 |
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