New Silver Lending LLC (“New Silver”) is a technology-enabled, non-bank lender focused on providing short-duration mortgages collateralized by residential real estate in the United States with a focus on “fix and flip” single-family investment properties. New Silver was founded in 2018 and has originated more than $150 million of loans with no foreclosures to date.



New Silver built and utilizes proprietary and scalable technology that provides automated loan approval, pricing, underwriting and value-add tools for borrowers. New Silver is able to lend in 41 states in the US and is licensed as a CFL Lender in California.

Description

New Silver works with real estate investors who want to buy, renovate and resell or buy, renovate and hold a property for profit. New Silver operates in 41 states in the US, and is licensed in the state of California as a CFL Lender. New Silver offers a number of products and services, with the below 2 loan products being the primary business activity for which funds raised in this offering will be used:

- Fix & Flip (FF) - for borrowers who want to purchase, renovate and resell the property
- Ground Up (GU) - for experienced borrowers who will perform heavy rehab on the subject property

Strategy

Over the last two years, we have originated more than $130 million of loans with ~$50 million securitized on the blockchain. Our annual investor returns have historically averaged between 15-20%.

Traction

New Silver

The management team has deep expertise in real estate management, property development, investment and building disruptive technologies.

Kirill Bensonoff

John Coury

Alex Shvayetsky

USD Coin

New Silver Lending LLC (“New Silver”) is a technology-enabled, non-bank lender focused on providing short-duration mortgages collateralized by residential real estate in the United States with a focus on “fix and flip” single-family investment properties. New Silver was founded in 2018 and has originated more than $150 million of loans with no foreclosures to date.

New Silver built and utilizes proprietary and scalable technology that provides automated loan approval, pricing, underwriting and value-add tools for borrowers. New Silver is able to lend in 41 states in the US and is licensed as a CFL Lender in California.

Overview

Investment Strategy

The management team has deep expertise in real estate management, property development, investment and building disruptive technologies.

**Kirill Bensonoff, Co-founder and CEO** -- 20+ years of experience as a successful entrepreneur and technologist. Previously built and successfully exited software and technology enabled businesses.

**Alex Shvayetsky, Chief Risk Officer** -- 25+ years of experience running commercial real estate operations for a large New England-based holding company.

**John Coury, Head of Capital Markets** - 10+ years of experience as an investment banking and commercial real estate professional.

Management Team

- 100% first lien position mortgages
- Entity and personal guarantees from all borrowers
- Experienced borrowers with equity at risk and above- average credit
- Construction reserves are disbursed upon work completion and 3rd-party inspection
- Geographically diversified with no rural areas
- Profitability test to ensure property can be sold at a profit or refinanced as an investment property
- 3rd-party national servicer that can undertake any default recovery
- Short-duration loans allow for adjustment of risk due to market conditions
- Short-duration loans minimize risk in a rising interest rate environment
- Potential default impact is minimized due to the large number of loans relative to the pool’s asset value

Manager Profile