Secured Capital. with optimised returns. COMPELLING RATES 3.50% to 7.50% APR* SECURED LOANS Minimum Security Value 1.25x Released Funds**

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2 Secured Capital with optimised returns. Access an exclusive asset class; financing secured real estate loans with InitiativeIreland TM. PRIVATE SYNDICATE Direct participation in Property Loans Members can join one of our Private Lending Syndicates, committing as little as 10,000 per loan***. OPTIMISED FOR YOUR CLIENT Choose from different loans and tiers Clients can choose which pre-approved loans to fund, financing senior and/or junior debt tiers, in order to support their financial goals. SECURED ASSET CLASS Access Secured Debt for Low Volatility All loans are secured with a 1 st Lien against Irish Real Estate, which we hold in trust for our Private Lending Syndicates.** COMPELLING RATES 3.50% to 7.50% APR* SECURED LOANS Minimum Security Value 1.25x Released Funds** FLEXIBLE TERMS Terms from 3 to 24 months. Experienced Loan Management We manage all loans objectively All loans are pre-approved by our internal credit committee and carefully managed from end-to-end by our experienced finance team and trusted partners. * Rates quoted are based on a 12 Month Term. Rates may vary and are before bad debts and income tax but after fees. ** Although all loans are secured by a 1 st Lien Charge, when a client lends their capital is at risk. ***Minimum lodgement of 10,000 required via the platform. Some services are available exclusively to clients lending in excess of 500,000 per annum. 1

3 Senior Management Team Chief Executive Officer Padraig W. Rushe Padraig is CEO, Chairman and Co-Founder of Initiative Ireland. He manages all risk, commercial and operational policy and activities within the company. Having worked with RBS, GE Money and Bank of Ireland, he has held Senior Risk and Commercial Management roles within the financial services industry over the last 15 years. He has proven experience managing regulated financial product portfolios within the UK and Ireland. He is an experienced C-Level Executive, having previously worked as a Chief Commercial Officer for Neuromod Devices, an innovative Irish medical technology company. He holds an MBA with Distinction from Trinity College, a BA Honours from UCD and is an accredited product advisor for Mortgages, Loans, Savings and Investments, certified by the LIA & UCD. Chief Credit Officer Padraig M. Rushe Padraig is Chief Credit Officer and Co-Founder of Initiative Ireland. He chairs the company s Internal Credit Committee, providing oversight and approval for all credit loans syndicated by the company. He has over 40 years of experience from Bank of Ireland, with 15 years as a Corporate Banking Director for the group. In this capacity, he has originated and managed syndicated loan facilities, with a multi-billion aggregate value. Rushe is Chairman of the International Finance Forum at FSI/IBEC. He graduated Valedictorian with an MBA from Lake Forest Graduate School of Management, Illinois in He was awarded the Certificate in Company Direction with distinction by the Institute of Directors in Director of Property & Legal Rory McEntee Rory is Director of Property & Legal for Initiative Ireland. With over 15 years industry experience, he has worked as a conveyancing solicitor, real estate advisor and as a loan manager within the property finance industry. Holding a Bachelor of Business & Law degree from Griffith College Dublin, Rory qualified as a solicitor in 2007 and is a member of the Law Society of Ireland. He is also an accredited product advisor for Mortgages, Loans, Savings, Investments and Pensions as certified by the LIA & UCD. 2

4 Syndicated Finance A sustainable solution for the Irish Market. Our Vision At Initiative Ireland we value transparency, stability and innovation. That s why we ve designed alternative finance solutions to offer our members fair returns without compromising their capital security. We have combined our specialist industry experience with our custom systems, to create a unique syndicated finance solution for the Irish Real Estate Finance Market. Who can apply for a loan? We provide competitive terms and rates to professional property developers exclusively. Each loan is carefully assessed and pre-approved by our internal credit risk committee prior to syndication. We only finance loans with a clearly defined exit strategy. As such, we are focussed primarily on financing quality family home construction in high demand residential areas within Ireland. We re committed to safeguarding our Private Lending Syndicates while also delivering fair, competitive returns. 3

5 Working with our clients, we aim to transform finance in Ireland to be honest, fair and inclusive. How do we manage Syndicated Loans? Each loan application is subject to independent valuation and credit review by our Internal Credit Committee and appointed valuation partners. Once approved by credit committee, loans are syndicated amongst our Private Lending Members for funding. Once committed by our members, funds are collected and held in trust, in segregated payment accounts, for phased release to the borrower. Each release is provided subject to the borrower s ongoing compliance with the terms of the loan agreement and the ongoing certification of works by our monitoring surveyor. Clients can track the performance of each project by viewing regular updates from our team, via our digital platform. Interest accrues daily on the active debt and is applied on a non-compounding basis. The interest and principal are due for repayment at the end of the loan term. The loan security is only released back to the borrower after final repayment of all principal, interest and fees outstanding. 4

6 Proposition Summary Client Optimised Loan Portfolios We provide finance for property development and short-term property loans exclusively. As such, the terms will typically fall within 9 to 24 months. This offers our members a way to access higher rates of return for their funds, without having to commit to long-term transactions. Interest accrues daily and is applied monthly on a non-compounding basis. Interest is due for repayment at the end of the loan along with the principal funds committed. In addition to selecting which loans to fund, our Private Lending Members may choose to fund Tier 1 or Tier 2 debt, or a combination of both to align their portfolio with their risk-reward appetite. Tier 1 Debt 3.50% APR* Tier 1 Debt has an LTC (Loan to Cost) of up to 40%. In the event of a loan default, Tier 1 debt is repaid in full before Tier 2 debt is repaid. Tier 1 interest is then repaid in full before Tier 2 interest, assuming adequate funds are available. This means that a minimum 60% loss of value is required on a loan for Tier 1 principal to be at risk from a credit default. Tier 1 Debt accrues interest at a fixed APR accruing monthly on active debt. As such, Tier 1 debt may be suitable to a client who is relatively cautious with their investment and savings choices, or who wishes to place some of their funds in Tier 1 and Tier 2 debt, for optimised returns. Tier 2 Debt 7.50% APR** Tier 2 Debt has an LTC (Loan to Cost) of 41% to 80%, subject to a maximum of 75% LTV (Loan to Value). This means that a minimum 20% loss of value is required on a loan for Tier 2 principal to be at risk from a credit default. Tier 2 Debt accrues interest at a fixed APR accruing monthly on active debt. As such, Tier 2 debt may be suitable to a client who is relatively balanced with their investments and savings, or who wishes to place some of their funds in Tier 1 and Tier 2 debt, for optimised returns. Warning: Although all loans are secured by a 1st Lien, when a client lends their capital is at risk. Rates are before bad debts and income tax but after fees. Members may wish to seek independent financial advise. * Rates may vary and are before bad debts and income tax but after fees. Tier 1 rates will vary between % based on the term. ** Rates may vary and are before bad debts and income tax but after fees. Tier 2 rates will vary between % based on the term. 5

7 Private Lending Membership Register for membership via InitiativeIreland.ie for free, for those registering in Step 1. Register for Membership Joining Initiative Ireland as a Private Lending Member is free for those registering in To apply for membership, simply complete our registration form at InitiativeIreland.ie Step 2. Documentation Required After you receive your welcome pack, you will be invited to activate your account via our digital platform. To activate your account you will need to provide proof of identity, address and proof of your nominated bank account. You will then have access to the platform, to begin reviewing loans. Step 3: Credit your Payment Account To subscribe to a loan via our digital platform, clients will need to first fund their payment service account, which is managed by our Regulated Payment Partner. A minimum balance of 10,000 is required to maintain an active account via the platform, whether this is in the form of a loan commitment or on deposit in the lenders client account. Step 4: Subscribe to Loans Once you have credited your account, you will be able to subscribe to Tier 1 or Tier 2 debt on any of our pre-approved loans listed via the platform, subject to availability. Step 5: Track your Portfolio With Initiative Ireland, members can track the progress of their funded projects, benefitting from regular updates. We will also alert you when new projects are listed on the platform for funding. Each month your Active Debt will accrue interest based on the agreed rate. Once the loan is repaid, your payment account will be credited with the principal and interest collected, subject to the terms of the loan. Register for Free: Register as a Private Lending Member by visiting 6

8 Key Risks to consider This section discloses the key risks to which InitiativeIreland TM Lenders are exposed when participating in syndicated loans. 1. Credit Risk & Security Value Fluctuations While loans are secured by Irish Real Estate, the underlying value of the security may fluctuate. In the event of a loan default and a material reduction in the value of the security, a member s capital repayment may be at risk. In the event of a loss arising from a loan which we have assessed, Initiative Ireland does not accept any liability where the loan was approved in good faith however we do commit to taking all reasonable steps to minimizing any potential loss, in line with our terms of business. In assessing this risk, it is important to note: Prior to funding, each loan application is reviewed by our internal credit committee and the security examined and authenticated by our appointed independent solicitors and valuation firms, in line with our due diligence policies. Initiative Ireland requires a 1 st Lien Charge over the property with a value expected to exceed the outstanding debt on the project by 1.25x throughout the loan. As such, a material loss of value on the project would be required before either Tier of debt would be impacted by fluctuations in security value. Loan funds are released to the borrower in tranches, in line with the completion of works which are certified by our appointed Independent Quantity Surveyors. This model materially reduces the risk to lenders, as the value of the underlying security should increase over the course of the loan relative to the outstanding loan balance, excluding market variation. While the value of the security may fluctuate, such fluctuations will not alter the rates due for payment by the borrower. As such, unless there is also a loan default, these fluctuations should not impact our lending syndicates. Clients may choose to increase their share of Tier 1 debt, relative to Tier 2 debt to further reduce their direct exposure to this risk, based on their personal risk-reward appetite. 2. Variation of Loan Duration In the event that works on an approved property development project are delayed or accelerate ahead of expectation, the final term of the loan many vary. Members should be aware of potential term extensions, when assessing the liquidity of their loans. In assessing this risk, it is important to note: Interest is charged on a simple monthly basis, this means that extensions in loan terms will continue to accrue interest on your funds, subject to performance. In the event that a loan materially exceeds the pre-agreed term, Initiative Ireland may call in the loan and seek to enforce the 1 st Lien security charge, in the interest of our lenders, and/or impose penalties on the borrower, to further incentivise prompt loan repayment. 7

9 3. Payments Service Management Initiative Ireland is not a regulated credit institutions, as the funds we loan are provided to business customers exclusively and we do not lend our own funds. There is a risk posed to lenders when lodging funds to unregulated entities. To address this risk, Initiative Ireland has partnered with a Regulated Payment Partner. As such, the Member Accounts offered via InitiativeIreland.ie are provided in partnership with our Regulated Payment Partner who manages all payments across the platform. Members will be able to lodge funds directly to this account, which is held in a Regulated Payment Account. Initiative Ireland does not have access to these members funds and may only instruct transfers on their behalf in line with requests from our lenders and our terms of business. Once a Private Lending Member subscribes to a loan, these funds are automatically transferred to a separate segregated escrow Payment Account maintained by our Regulated Payment Partners. Funds will then be released to the borrower s Nominated Bank Account on a phased basis, in line with the terms of the loan. Repayments by the borrower will be made directly to their segregated escrow account by the borrower, for appropriate re-payment to the subscribing lender payment accounts in line with the terms of the loan and terms of business. 4. Business Continuity Risk As with any business, there is a risk that Initiative Ireland could for reasons outside of its control, be unable to continue their service offering. To ensure a continuity of service, Initiative Ireland has taken the following steps: Members funds are held in segregated payments accounts with our Regulated Payment Partner. In the event of such a disruption, our Regulated Payment Partner is contracted to provide a continuity of service on outstanding loans, in partnership with our appointed loan administrators for each loan. In the event that this arises, no new loans will be authorised however remaining loans will be administered in compliance with the terms of the loan and terms of business. In the event that Business Continuity Service is required or anticipated, Initiative Ireland may alternatively arrange for wholesale transfer and sale of the loan portfolio, to provide an early release to our private lenders in addition to the same continuity of service to our borrowers. Loan Contract terms will be unaffected by any Business Continuity Management or related debt sale. 8

10 Key Terms of Service This section discloses the key terms of service offered to our lenders. For full terms of business, please visit This document is not an investment prospectus, furthermore it should not be considered in isolation but in conjunction with the Terms of Use for Initiative Ireland and Terms of Business, as available from InitiativeIreland.ie. 1. Appointed Agent Initiative Ireland enables you to make fixed rate loans to a Borrower secured over the Borrower s Property. Initiative Ireland is not a borrower or lender under the terms of contract. The loans will be made under Syndicate Loan Facility Agreements between your syndicate and the borrower, entered into on your behalf by Initiative Ireland, subject to our terms of business. Initiative Ireland acts as an appointed agent between both parties and agrees to administer the loan in keeping with the terms of business and conditions of the Loan Facility Agreement. 2. Non-Advised Service Initiative Ireland does not offer financial advice or investment advice to our Private Lenders or Borrowers. We aim to provide sufficient product information to enable our clients to make considered decisions, in consultation with their own independent financial advisors. If you are in doubt as to whether lending via Initiative Ireland is suitable for you, you should seek independent advice from a financial adviser. This document does not constitute financial advice. 3. Debt Management If the Borrower deviates from the agreed terms of the Loan Facility Agreement, you authorize us to negotiate a resolution and/or address such issues on your behalf. This may include exercising Step In Rights, appointing a new contractor, selling the property or debt or taking other such action as we deem necessary to minimize losses for our Syndicate Members. If a Borrower defaults, dies or cannot pay, Initiative Ireland may commence recovery of the debt due under the Security Documents, and any sum recovered will be paid to the Lender, less any enforcement costs that could not also be recovered and other outstanding fees due. This means that in the event a loan does not perform, you are unlikely to lose the total principal amount you lend via Initiative Ireland, and your rate of return may also be protected. 4. Tiered Loans Model Initiative Ireland operates a Tiered Loans model, which segments the Borrower s overall loan requirement into different Debt Tiers based on Loan to Cost (LTC) of the loan, up to a maximum of 80% of the LTC for each Development. Tier 1 debt is comprised of debt with an LTC of up to 40%, which accrues a lower rate of interest. Tier 2 debt is comprised of debt with an LTC of 41% to 80%, which accrues a higher rate of interest. When repayment or partial repayment occurs, Tier 1 principal is paid in full before any Tier 2 principal. Similarly Tier 1 interest is repaid before any Tier 2 interest. As such Tier 2 loans have the highest risk of principal and interest repayment failure, which is why Tier 2 debt accrues a higher rate of interest relative to Tier 1 Debt. Initiative Ireland reserves the right to vary the level of return offered to different Lenders for their participation in the future. Such variation will not impact the terms of subscription for existing loans and / or other participating syndicate members. 5. Payment Management We are a partner of MANGOPAY, an electronic money institution approved by the Financial Sector Regulator (CSSF) of Luxembourg. This enables us to provide members with Regulated Payment Accounts. Members will be able to lodge funds directly to this account, which they can then commit to loans. All funds will be administered in line with instruction from Initiative Ireland by our Regulated Payment Partner, with whom our clients also directly contract. In the event of a change in the terms of business with our Payment Partner, these services and terms offered to our clients may vary. 9

11 Further Information T: +353 (0) E: W: Initiative Ireland Limited, NovaUCD, Belfield Innovation Park, UCD Belfield, Dublin 4 Initiative Financial Services Limited, t/a Initiative Ireland is a private limited company registration number Initiative Ireland is a registered Data Controller, registration number 16237/A. Initiative Ireland is a partner of MANGOPAY, a public limited company incorporated in Luxembourg (Number B173459) and approved as an electronic money institution by the Financial Sector Regulator (CSSF), Luxembourg. Information provided is provided on a non-advised basis and should be considered in conjunction with the Initiative Ireland Private Lenders Guide. Members may wish to seek independent financial advice to determine the suitability of our offering relative to their financial needs prior to registration. For further information, including terms of business which apply, please visit

12 Further Information T: +353 (0) E: W: Initiative Ireland Limited, NovaUCD, Belfield Innovation Park, UCD Belfield, Dublin 4 Initiative Financial Services Limited, t/a Initiative Ireland is a private limited company registration number Initiative Ireland is a registered Data Controller, registration number 16237/A. Initiative Ireland is a partner of MANGOPAY, a public limited company incorporated in Luxembourg (Number B173459) and approved as an electronic money institution by the Financial Sector Regulator (CSSF), Luxembourg. Information provided is provided on a non-advised basis and should be considered in conjunction with the Initiative Ireland Private Lenders Guide. Members may wish to seek independent financial advice to determine the suitability of our offering relative to their financial needs prior to registration. For further information, including terms of business which apply, please visit