Crowdfunding Platform Enters Arizona

PHOENIX—Patch of Land, a crowdfunding platform that brings together borrowers and lenders through an online interface, announces its largest loan offering to date: The Ramada Hotel located on the historic Main Street of America, Route 66. This investment offering expands Patch of Land’s nationwide reach into Arizona. The investment offering is listed at $3.2M with an 18-month loan term at 10% APR and 47% LTV.

“We are thrilled to offer an investment opportunity along the historic Route 66, since it is a true American icon,” says Jason Fritton, co-founder and CEO of Patch of Land. “We make investing simple, easy, and transparent for anyone who is interested in diversifying their portfolio. With the Ramada Hotel being our biggest loan yet, Patch of Land continues to grow as an originator of diversified loans that help borrowers and investors make their goals a reality.”