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The company has funded over 323 individual loans, returned more than $151 million to its investors with no loss of principal, and yielded a net average annual return of 11 percent to investors.
Sharestates is the latest example of a startup taking advantage of Title III of the JOBS Act. When former U.S. President Barack Obama signed it into law, non-accredited investors were allowed — for the first time — to use services like SeedInvest and take part in seed stage fundraising. At the time, the JOBS Act was believed to be a profound victory for New York’s startups and small businesses. The funding round for Sharestates is set to remain open until the end of January. So far, the company touts a 55 percent year-over-year growth. In December, it surpassed $42 million in loans, nearly doubling total loan volume in just over three months.
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