OREGON’S PREMIER PRIVATE LENDING COMPANY

Founded in March of 2017 as an alternative real estate finance provider, Cetan Income Fund LLC specializes in short-term real estate loans for Oregon investors, contractors, small businesses and developers. The firm raises capital from accredited investors and funds real estate secured loans generating an attractive risk-adjusted return for investors. Loans are selected through a lending model based on deep local market knowledge, disciplined underwriting and strong western Oregon economics.

Property Geographic Area Details

Western and Central Oregon

Investment Type

Mortgage Fund

Target Return

6% to 12% Annually

Minimum Investment

$50,000

Lien Position

Majority are 1st Liens

Average LTV for All Loans

60%

Average Loan Term

12 months

Property Types and Loan Types

Collateral Types

  • Residential Property
  • Commercial Property

Property Types

  • Residential Investment
  • Residential Land
  • Commercial Land
  • Multifamily
  • Retail
  • Office
  • Industrial
  • Mixed-Use
  • Hospitality
  • Healthcare
  • Assisted Living Facility
  • Storage Facility
  • Senior Housing
  • Student Housing
  • Mobile Home Park
  • RV Park
  • Automotive

Loan Types

  • Purchase
  • Refinance
  • Equity Cash Out
  • Fix & Flip
  • Rehab Value Add
  • Ground-Up Construction
  • Long-Term Rental

Investor Types

  • Individual Accredited
  • Ultra High Net Worth Investor
  • Family Office
  • Private Equity
  • Hedge Fund
  • Pension Fund
  • Foundation
  • Endowment
  • Insurance Company

Leverage

Levered

Recapitalization

All Loans Held in Portfolio

Commitment Term

18 months

Redemption Notice Period

90 days

Distributions Paid

Quarterly

Inception Date

March 1, 2017

Assets Under Management

$12,300,000

Fund Term

Open-End

Maximum Offering

$50,000,000

Management Fee

1.5%

Performance Split

No performance split, management is not incented to stray from our strategies to build yield. Our fee is enough.

Securities Exemption

Regulation D 506(c)

IRA Investment Option

Yes

Mortgage REIT

No

PROVEN FUND MANAGEMENT

The Principals — Mary Merriman, Steven Yett and David Yett — have over 60 years of combined lending and real estate development experience in the state. With so many people moving to Oregon, builders and developers generate a persistent demand for housing and commercial loans. The team knows the region and market well, has established relationships and is uniquely qualified to vet potential loans and manage the fund, as results show.

Cetan Income Fund has consistently delivered 8-10% annualized returns to investors since its inception due to management’s expertise and successful strategies. Unlike many hard money lenders, the fund is a private relationship lender and forms strong partnerships with both borrowers and investors. Conservative underwriting with disciplined due diligence of borrowers and underlying real estate assets mitigate credit risk. Maintaining a diversified mix of short-term loans results in an average asset turnover rate of 12 to 15 months.

Investing in Cetan Income Fund is an excellent choice for investors seeking to diversify their investments and earn attractive risk adjusted returns.

THE CETAN ADVANTAGE

Borrowers experience the Cetan Advantage in many ways:

Smart money: Leveraging our team’s 60 years of lending and real estate development experience in Oregon to shape the right loan for them.

Vested in success: Building a long-term relationship with us, partnering on multiple deals.

Speed: Receiving underwriting answers in two to four days and loan closings often as fast as seven days.

Flexibility: Getting a loan tailored to their project’s specific needs.

Simpler interest: Only paying interest on the outstanding balance or the draw schedule, not the full loan commitment.

CETAN MEANING

Cetan (seet-n): The hawk spirit in Lakota mythology signifies keen vision, speed and loyalty.


Cetan Income Fund Overview

  • Current Fund Size: $12.3 million as of 2020 Q2
  • Maximum Offering: $50 million
  • Investment Options: 
    • Membership Units —Equity
    • Promissory Notes — Debt
  • Manager: Cetan Management, LLC
  • Loan Originator & Servicer: Cetan Funds, LLC
  • Fund Term: Open-ended Evergreen
  • Minimum Investment: $50,000
  • Leverage: The fund uses a bank line of credit only for temporary liquidity and notes held by investors
  • Member Distributions:  Quarterly
  • Fees:
    • Management — Up to 2.0% of assets under management
    • Loan Servicing — 1.0% of assets under management
  • Fund Type:  506(c) Offering
  • Investor Eligibility: Accredited Investors

Quarterly Snapshot – Q2 2020

  • Average Annualized Quarterly Return: 7.26%
  • Assets Under Management: $12.3 million
  • Number of Investors: 59
  • Member Equity: $11.7 million
  • Investor Notes: $440,366
  • Weighted Average Asset Life: 12.1 months
  • Number of Loans: 36
  • Principal Outstanding: $11 million
  • Weighted Average LTV: 60%
  • Delinquency Rate: 5.5%

Cetan Income Fund, LLC is open to accredited investors only. Individuals must pre-qualify before investing. This does not constitute an offer to invest in the fund and is for informational purposes only.

Cetan Funds, LLC

458-202-4472

Office Locations

Cetan Funds
72-c Centennial Loop, Eugene, Oregon, 97401
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