Welcome to our new investors and followers. To all of you, thank-you for supporting ACE’s mission to help low-income housing communities and to protect the environment! Now that you are part of ACE's movement, we want to keep you updated on our work:
• Crowdfunding Progress, but a Long Way to Go. After launching our crowdfunding campaign, we've received additional investments and commitments of almost $20,000 from more than 15 investors. We are still waiting for some investors to finalize their investments on the StartEngine platform, but with all the commitments, we are exceeding the minimum funding goal set with the platform. But this was an arbitrary minimum, we have as our goal to raise between $200,000 and $500,000 to provide the additional liquidity that will be required as ACE moves on to new projects.
• Term Sheet with A Project Lender. The good news is that we have signed a Term Sheet with the Reinvestment Fund to provide the project loan for the $5.5 million Mercy California Project. While we still have details to iron out, RF is aiming for a loan committee meeting in late November. We are working diligently, and hope to close the loan by early in 2018.
• More Visibility for ACE’s Work. ACE has been cited as an industry pioneer, tapping into social impact investors like you to help fund energy efficiency for low-income housing. Check out the press coverage here.
We are very positive about our progress in our core business and in the preliminary results of our crowdfunding campaign, but we still have an urgent need to raise additional funds to provide the liquidity required to strengthen ACE’s balance sheet. This will help us reach more low-income individuals and families and to grow our business.
Please join us in the cause and share your support with those whom you think our mission might resonate. And if you haven’t yet invested, please do so now.
Thank you for being part of GOOOD to the Power of ThreeTM.