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What is an Early Access loan?

Early Access loans are opportunities that have not yet been funded or acquired by PeerStreet. The final investor rate will be determined by you, the PeerStreet marketplace. Once the final investment terms have been set, PeerStreet will put the loan through our diligence process and get the loan funded or purchased before your investment becomes Active.

 

What is the minimum investment amount?

The minimum investment amount remains $1,000.

 

When will my investment in an Early Access loan become active?

After the Early Access loan has been filled on our platform, we will run it through our internal diligence process prior to purchasing or funding the loan. Your investment will not become Active until PeerStreet has purchased or funded the loan. Typically, this will happen within 21 days from when the investment is posted on the platform.

 

An Early Access loan I invested in is now showing a higher rate. Will I get the benefit of the higher rate?

Yes, you will get the benefit of the higher rate. PeerStreet may adjust the investor rate upward after you invest in an effort to get a loan filled as quickly as possible. All investors in the loan will receive the benefit of the final rate posted at the time the investment is filled on the website.

 

When will the property address and valuation be available to review?

Once the loan is closed with the borrower, PeerStreet will update the Loan Details page to include both the property address and valuation.

 

When will photos of the property be available to review?

Once PeerStreet receives a completed valuation that includes photos, they will be added to the Loan Details page about 24 hours before closing the loan with the borrower.

 

Can I cancel an Early Access investment?

As with all of your investments on PeerStreet, as long as the investment is not Active, you can cancel your investment at any time by emailing support@peerstreet.com.  

 

What happens if I invest in an Early Access loan and it gets canceled by the lender/broker?

If an investment is canceled, any invested funds will be immediately returned to you as available cash in your account. Impacted investors will be notified via email.

 

What happens if I invest in an Early Access loan, and it doesn’t attract enough interest to be funded?

Early Access loans that fail to attract sufficient investor interest will result in your investment being canceled. Any invested funds will be immediately returned to you as available cash in your account. Impacted investors will be notified via email.

 

If I am enrolled in Automated Investing will I be invested in Early Access loans?

Yes, but only if the Early Access loans fit your pre-selected investment criteria.  If the loan characteristics change between the time of your investment and the time of acquisition by PeerStreet such that the loan no longer fits your criteria, your investment will automatically be canceled. 

As always, you can cancel an automated Early Access investment at the time of allocation by clicking the “cancel it yourself” link in your notification email or at any time before it becomes Active by emailing support@peerstreet.com.  If you do not wish to be invested in any Early Access loans, you can go to Automated Investing and switch your settings to “Off.”

 

Does PeerStreet still have a first lien position in investments in Early Access loans?

Yes.