Investment Model
Subscriptions
Steel Return Oregon allows Limited Partners that reside in Oregon, to purchase units in The Fund. Each unit is $1.00, and the initial minimum purchase is 25,000 units. An Investment may be increased by any amount after the minimum initial investment.
While there are provisions allowing for withdrawal, this investment is a long term investment and should not be used like a savings account. There are no withdrawals allowed for the first 12 months of investment.
Limited Partners may elect to receive their earnings distribution monthly via electronic deposit, or select the growth option, where earnings are retained by The Fund and automatically reinvested on their behalf.
Limited Partner Responsibilities
The Limited Partner should seek competent legal, accounting and tax advice to insure that an investment of this type is right for them. The Limited Partner should also review the Steel Returns Oregon L.P. Offering Circular. These documents detail the financial arrangements and risks.
All Investors must be Oregon residents.
General Partner Responsibilities
The General Partner researches, evaluates, underwrites, assesses risk and selects what auto loan cash flows The Fund invests in. To maximize benefits to the Limited Partners, the General Partner exercises due diligence in order to provide The Fund aggressive returns without undue risk.
The General Partner oversees the servicing of all loans.Servicing includes, but is not limited to:
- Receipt and accounting of all payments
- Completing monthly accounting
- Following standard protocol for delinquent payments
- Managing repossession and disposition
- Providing payoff information to borrowers
The General Partner is responsible for fund compliance, including:
- Having federal and state income tax returns prepared timely by an outside accounting firm
- Providing all Limited Partners the appropriate tax documents on an annual basis
| MINIMUM INVESTMENT | $25,000 |
|---|---|
| PREFERRED RETURN | 10.125% |
| MAXIMUM OFFERING AMOUNT/ CURRENT FUND SUBSCRIPTIONS | $100,000,000/$25,000,000 |
| SUBSCRIPTION ACCEPTANCE | Upon General Partner review |
| REDEMPTIONS | Quarterly with 90 days' notice |
| LOCK-UP | 12 months |
| GENERAL PARTNER INVESTMENT IN FUND | General Partner contributes |
| AUDITOR | Cathedral CPAs & Advisors, LLP |
| FUND ADMINISTRATOR | Steel Lending Group LLC |
| LEGAL COUNSEL | White Summers Caffee & James, LLP |
| REPORTING | Monthly investor statements; annual K-1s and audited financial statements |
1 See full terms in the Offering Circular.