Intro from new issuer ALT 1.0 SPV, LLC
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Alternative is reimagining financial services through lending. We are launching Alternative Payments and Alternative Capital to democratize access to capital and provide fully customizable financing solutions to early- and late-stage venture-backed businesses.
Please give a brief history of the company and, if applicable, group structure.
Alternative was founded by Baxter Lanius, a former Principal at Apollo Global, to revolutionize the online lending industry by providing underwriting-first financing solutions.
Please give an overview of the legal structure.
Alternative Finance, Inc. (“Alternative” or the “Asset Originator”) has launched ALT 1.0 SPV, LLC (the “Issuer”), a Delaware Limited Liability Company, which will offer for sale to investors tokens, corresponding to certain payment obligations owed to the Issuer by various companies.
Organization
How many full-time equivalent team members do you have?
We are a team of 10 FTE, mostly in engineering and data. Previously, Baxter Lanius, our Chief Executive Officer, was at Apollo Global, one of the world’s largest asset managers, and Victory Park Capital, one of the first institutional lenders to fintech. We are actively hiring across numerous other roles.
Are you venture funded?
We are backed by Third Prime, Fintech Collective, Company Ventures and Moore Capital.
Asset Details
Describe the asset collateral that you seek to finance.
Accounts receivable and invoices
Describe your previous track record related to this business proposal.
Alternative is a new financing platform with no track record; however, the founding team has numerous years of experience in the industry.
What is the average collateral asset size?
Average loan size: $25,000 - $250,000
Describe the risk of the assets you are proposing.
This is a non-exhaustive list of potential asset specific risks that are described in detail in the executive summary: limited operating history, general early-stage and late-stage company risk, borrower default risk, failure to recoup full value of the underlying asset in foreclosure.
Disclosures
Please describe any conflicts of interest or potential conflicts of interest or any relationship that could compromise or be viewed to compromise the decision making of the company.
No.
Are there or have there in the last 10 years, been any criminal, civil, regulatory or administrative proceedings against (i) the Company or any of its principals or (ii) the product in any similar such matters including reparations, arbitrations, and negotiated settlements? If so, please describe.
No.
Are there any further disclosures that interested parties should be aware of?
No.
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Hi @Alternative,
It appears there is a 600k DAI loan outstanding that is late nearly 2 weeks now. What is the status of this asset?
Hello Token Holders,
We’re excited to share an important update with you. After two years of dedicated efforts, we’re wrapping up the ALT 1.0 SPV pool. Despite deploying considerable capital, we encountered challenges in consistently scaling asset originations. However, our commitment remains unwavering.
In the short-term, we’re doubling down on enhancing our payments platform (outside of the Centrifuge lending business), ensuring its robustness and efficiency. Lending remains a core focus for us, and we anticipate returning to it once our payments business achieves incremental scale.
We extend our heartfelt gratitude for your steadfast support throughout this journey. Your belief in our vision fuels our determination to continue striving for excellence. At this time, per my email to all investors, we are asking Centrifuge to wind down the pool and handling the redemption process offchain.
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