Investing in Norada Funding's notes

[Chris Yeung]

Has anyone in the BP community dealt with Norada funding? This is a sister company of Norada Real Estate. They're opening up some investment opportunities for 24 months. Rates are pretty high (12-15% with an additional 5% of the loan paid at maturity). The minimum investment is 50K. 

[Norman Schultz]

Mr. Santarelli - I'm interested in getting started in promissory note investing. I'm in the general due diligence phase, i.e. determining if I really want to do this at all. The SEC wars against prommissory note scams here: https://www.sec.gov/investor/p... Could you address a few key points with respect to Norada? Specifically:

1. Are your investments registered with either the SEC or with the California Department of Financial Protection & Innovation?
2. Who at your firm is licensed to sell securities?

3. What is your note default rate?

Thanks in advance.