[Issuer] UrbanGate Capital Introduction & May 2023 Update

Hello Centrifuge Community,


While we are not yet operating a pool on Centrifuge, we wanted to introduce our company as well as start posting monthly updates to the Forum so the community can get to know us. Below is our company’s origin story (Video) and our May Monthly Investor Update (Video).

UrbanGate Capital Introduction

We wanted to create this post to provide some additional background on ourselves and UrbanGate Capital. You may know us from our POP Submission in Nov 22 however we wanted to provide this intro as well.

The UrbanGate story starts with my Co-Founder Brandon Thornberry. Brandon has been investing in Single Family houses in Nashville for 15+ Years, has flipped over 100 houses, and now currently owns and operates his Single Family and Multi Family portfolio. In between buying his own deals he started lending out his own capital to people who he knew and trusted that were Flipping Houses (buying renovating and selling the house for profit).

I was working at a Debt Brokerage in Knoxville, TN where I closed over $24MM in loans on commercial properties mostly in the Southeast. I met Brandon in 2020 and was very interested in learning more about the loans he was making. So much so that I built a business plan and proposed the idea to Brandon about us starting a Private Lending Business and he was all for it. Since then, we have done over 125 Loans, $25MM in Loan Volume, and raised $10MM in Capital from Investors so we are excited with how things have gone so far! Here is a short video of us talking about our origin story (UrbanGate Capital’s Origin Story)

In late 2019 I first heard the term DeFi from my Godfather who told me this is something I should investigate. I was hooked since the first time I heard the phrase Decentralized Finance. I have always been an economics nerd and loved the idea of building a company within DeFi in order to help progress a decentralized financial system.

Ever since the beginning our company’s purpose has been to “Connect DeFi to Real Estate Lending” and right now we think that launching a pool on Centrifuge is the best way we can pursue that mission.

In addition to the introduction, I want to start providing monthly updates similar to what other issuers do and I will start with the May Update below and continue doing this on a monthly basis so the community can keep up to date with our progress and metrics.

UrbanGate Capital’s May 2023 Investor Update

The Month of May was a busy month for us! Check out our Key Metrics Below:

  • Loan Volume: $1,715,000
  • Number of Loans: 6
  • Average Loan to After Repair Value: 67.36%
  • Loan Payoffs: $1,247,460
  • Number of Loans Paid off: 6 Loans
  • Interest Paid to Investors: $38,402.33

Here is a 5 minute YouTube Video where Brandon and I talk about our May Updates.

Feel free to shoot me a message if anyone has any questions. Thanks!