A: Aspen has been managing note funds since 2013. The Aspen Income Fund was started in 2013 and since then we have never missed a preferred return payment, nor have we lost any investor’s principal investment capital.

A: The minimum investment in Aspen Income Fund is $50,000.

A: The initial lock-up period for this fund is 1 year. After 1-year we provide best-efforts liquidity and allow investors the option to redeem their shares on a quarterly basis with 90 days written notice.

A: Yes, this fund is open-ended, also known as an evergreen fund. We calculate Net Asset Value (NAV) on a quarterly basis and allow investors to subscribe and redeem at the current share price.

A: Upon initial investment, we have a 3-month delay period (in order to deploy capital). Then, investors will receive their preferred returns monthly either by direct deposit (ACH) or by check.

A: Yes, investing in the private fund is completely passive. When investing in a private fund, you are leveraging our management company’s experience in this business and participate in a diversified portfolio. Investors receive their monthly preferred return by either wire or check.

A: On a monthly basis, investors receive their preferred return. Quarterly, we provide capital account statements, investor newsletters, and financial statements. We also always welcome calls from our investors.

A: If you invest, you become a part owner of the fund versus a specific note. Therefore, your capital is diversified across all the notes in the portfolio.

A: Yes, our funds currently only allow accredited investors.

A: Yes, our funds allow investment through qualified retirement money. This must be done through a self-directed IRA or 401K. If you don’t yet have a self-directed account, we can make introductions to several custodians that we have worked with. Additionally, our funds do not generate Unrelated Business Income Tax (UBIT).

A: An individual or an entity can generally qualify as an accredited investor if they meet at least one of the following criteria:

• an individual with income exceeding $200,000 or joint income with his or her spouse of at least $300,000, in each of the last two years with the expectation to reasonably maintain the same level of income in the present year
• an individual with a net worth exceeding $1 million, excluding the primary residence, either individually or jointly with his or her spouse;
• an entity that has assets exceeding $5 million that was not formed solely for the purpose of making the investment; or
• an entity whose owners all satisfy 1, 2, or 3 above.

For more information about the requirements of an accredited investor, see this bulletin from the SEC.