debt
confidence high
sentiment negative
materiality 0.70
GENERATION INCOME PROPERTIES, INC. (GIPR): debt financing — Generation Income Properties secures $125K loan from director affiliate to fund Nasdaq appeal
GENERATION INCOME PROPERTIES, INC.
- Loan of $125,000 from QCCR Investments (affiliate of director Richard Russell) at 12% simple interest plus 3% origination fee.
- Maturity is earlier of sale of 2510 Walmer Ave. property or 9 months; prepayable without penalty.
- Proceeds used to fund appeal of Nasdaq staff decision denying continued listing on the Capital Market.
- Guaranteed by operating partnership Generation Income Properties, LP and secured by 100% of borrower's equity interests.