Small Change is a socially responsible investment platform, featuring real estate projects that they believe can transform cities for the better.  Developers list their projects – which they have vetted in advance – and investors can choose among them. You won’t own real estate directly in your own name, the way you own your home. Instead, you’ll own an indirect interest in real estate. Often, you will own an interest in a limited liability company that itself owns real estate. In other cases, you will own a promissory note that is backed by real estate. In still others, you’ll own an interest in a limited liability company that itself owns a promissory note backed by real estate. They’ll describe exactly what you own in the information they provide for each project.

The returns you receive from Small Change vary from offering to offering. Sometimes developers offer a preferred return. Sometimes they offered preferred return + profit, and sometimes they offer interest payments. Some developers start distributing early on, and others cannot make payments until later. Each offering should be studied carefully to make sure the returns offered meet your expectations.

There is no fee to be an investor on the platform. They charge developers a fee based on the amount they raise.

A crowdfunding investment involves risk. You should not invest any funds in their offerings unless you can afford to lose your entire investment. In making an investment decision, investors must rely on their own examination of the issuer and the terms of the offering, including the merits and risks involved. These securities have not been recommended or approved by any federal or state securities commission or regulatory authority. Furthermore, these authorities have not passed upon the accuracy or adequacy of this document.  

The U.S. Securities and Exchange Commission does not pass upon the merits of any securities offered or the terms of the offering, nor does it pass upon the accuracy or completeness of any offering document or literature.  The securities are offered under an exemption from registration; however, the U.S. Securities and Exchange Commission has not made an independent determination that these securities are exempt from registration. 

Additional statement: There are numerous risks to consider when making an investment and financial projections are just that - projections. Returns are not guaranteed. Conditions that may affect your investment include unforeseen construction costs, changes in market conditions, and potential disasters that are not covered by insurance. They include a more expansive Risks of Investing exhibit with each offering which should be reviewed.