Sky Soaring Inc. is looking for investors for its next edition of the Field Loan. The current Field Loan will be paid in full this October. The only remaining Club debt is owed to the LLC Members who hold promissory notes for $80,000. This represents the cost of purchasing their LLC shares 5 years ago.
The SSI Board has decided to fund the next Field Note at $100,000 to insure sufficient funds are available for the Pawnee engine overhaul. All members are invited and encouraged to participate in financing the Club debt. Investors may contribute any amount from a minimum of $5,000 to a maximum of $20,000. The loan will be structured as follows:
Principal – $100,000, 3.5% Annual Interest Rate, 5 Year Duration with a Balloon Payment at the end of the loan. Payments will be on an Annual basis. Payments are based upon a 15 year amortization schedule. As with previous Field Notes, the loan is secured by property owned by Sky Soaring LLC.
The new Field Note will be presented for discussion at the Club Meeting this Saturday.