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LIONSCOVE’s Roadmap to a Stronger 2025 Building on 2024’s Success
We have applied the lessons we learned from 2024, outlined in the last newsletter, and wanted to share our objectives for 2025 that are already underway. Here are our key goals for this year: • Reduce delinquent assets to under 10% of the portfolio • Double our origination volume • Maintain a healthy loan loss reserve • Deliver a consistent annualized return between 7%–8%
single largest contributor to returns and where we have our focus. Double our origination volume. As we work through reducing delinquent assets, continuing to originate strong loans that are not defaulting is key to business continuity and the future success of the fund and LIONSCOVE as a whole. Since I took over the business and we repositioned our strategy in late 2022, the quality of our borrowers has been strong. We have only had two delinquencies since October 2022, and neither has required a write-down as of December 2024. That means we are originating high-quality loans with a low propensity for default. This is good business that we want to expand this year with a target of at least doubling our volume. Maintain a healthy loan loss reserve. In the event that there are delinquent assets that need to be written down, we want to make sure we have funds available to do so without impacting projected return or requiring a change in investor principal. In 2024, we were diligent about building a loan loss reserve of over $900,000 to be able to have it for this purpose. We will continue to provide an annualized return of 7%-8% and put excess returns toward this loan loss reserve until delinquent
SPRING 2025 LIONSCOVE.COM (855) 438-7051
Reduce delinquent assets. This remains our top focus in 2025 for our investors. We have made substantial progress in 2024 and will carry this momentum to aggressively resolve the 12 delinquent assets that remain on the portfolio. We are focused on liquidating the assets with the highest book value first, with a target of resolving one to three per quarter. This initiative is the
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LIONSCOVE Joins Forces With Church Girls
To Give Hope and Homes to Those in Need
LIONSCOVE believes that everyone
deserves a place to call home, which is why we partner with many great nonprofit organizations nationwide. One group that we greatly enjoy supporting is Church Girls, located in Georgia. Church Girls recently purchased a LIONSCOVE property with escalating payment terms and a rate structure that allows them to be successful and LIONSCOVE to be paid in full. Church Girls had a very humble beginning. It started as a weekly prayer line, hoping to assist, encourage, and support single mothers who had encountered hardship. Church Girls founder Deondra Lightfoot knew she could accomplish more. She developed a vision board and devised a plan to provide housing to those who need it most. Deondra wanted to create a space where families in need could spend up to a year to get back on their feet. Church Girls started with a resource center that provided clothing and other necessities free of charge to those in need. Deondra had everything she envisioned for Church Girls except the ability to provide shelter, which is where we stepped in. While visiting Georgia, Liam and the LIONSCOVE team met with Deondra, who shared her vision for Church Girls. LIONSCOVE saw tremendous potential in a partnership with Church Girls and began providing support. The city wanted the property condemned
because it had historically been used to distribute drugs and sex workers, but through a team effort, we were able to address the city’s concerns, turn them into advocates and fix up the property. Over time, the relationship between LIONSCOVE and Church Girls continues to evolve and strengthen. Church Girls is in a great position right now. Six rooms on the property are fully completed, and families currently reside there. There are 23 rooms on the property, so plenty of work remains. If you want to learn more about Church Girls and how to support their efforts, please visit ChurchGirls.info.
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MEET MATT STANEFF GUIDED BY EXPERTISE
To build a successful company, you must surround yourself with individuals who come from diverse backgrounds and have dealt with a wide range of situations. By working alongside trustworthy, intelligent, and determined individuals who share a common goal, you can rest easy knowing that they’ll do everything in their power to find success. LIONSCOVE’s board of advisors fits this description perfectly. Allow us to introduce Matt Staneff, a board member who uses his expertise and knowledge to help put us in the best position possible. From an early age, Matt was interested in real estate and finance. He earned a degree in economics with a heavy emphasis on math and finance. Before long, his career in finance quickly
shifted into the world of credit, and he found himself managing credit-based wireless products. Eventually, he found a role at a Fortune 40 company, working in the most senior positions across various critical departments. Since joining LIONSCOVE’s board of advisors, Matt has been involved in just about everything. He provides sound advice when needed and has helped with business strategy, building relationships with local builders and the community, and marketing endeavors. Matt firmly believes that LIONSCOVE can be a differentiator in the industry by providing great products and excellent customer service. He also supports our efforts to build strong communities through charitable actions.
When not helping out with our projects, Matt stays busy with his family and hobbies. After a successful corporate career, he had an opportunity to retire early and spend some additional time with his two daughters and wife. He gets outside regularly, participating in snow sports, bike sports, running, and more. He has also remained involved in the real estate industry, as he builds a few homes yearly as a spec builder. We’re incredibly grateful for Matt’s perspective and knowledge. We know he will continue helping us grow and reach new heights!
Ingredients • 1 yellow onion, chopped RACHEL’S RECIPES
Spicy Pinto and Tempeh Chili
3 LIONSCOVE.COM | (855) 438-7051 the cornmeal, and let sit for 5 minutes, letting the chili thicken slightly before serving with any desired toppings. Directions 1. Saute onions in a large sauce pot over medium- high heat until they begin to look translucent (about 2-3 minutes), then add garlic, carrots, celery, and bell peppers. Saute for 3-4 minutes until they begin to soften. 2. Add mushrooms, tempeh, chipotles, bay leaf, chili powder, cumin, onion powder, and garlic powder. Stir and let cook for another minute. 3. Add tomato paste and sauce and cook until incorporated. 4. Add both beans and veggie broth (or water) and bring to a boil, then reduce to a simmer. Mix well and cover. Let simmer on low heat for 15 minutes. 5. Remove from heat, stir in the applesauce and
• 1 tsp onion powder • 1 tsp garlic powder • 6 oz tomato paste • 1 14-oz can tomato sauce • 2 14-oz cans pinto beans, drained & rinsed • 1 14-oz can kidney beans, drained and rinsed • 4 cups water or veggie broth • 1/2 cup applesauce • 2 tbsp fine cornmeal
• 4 cloves garlic, diced • 1 cup chopped carrots • 1 cup chopped celery • 1 green bell pepper (seeds removed), chopped • 1 cup sauteed and chopped mushrooms • 8 oz tempeh, diced • 3 chipotles in adobo sauce, chopped • 1 bay leaf • 2 1/2 tbsp chili powder • 2 tsp ground cumin
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INSIDE
2025 Goals in Action PAGE 1 LIONSCOVE’s Partnership with Church Girls PAGE 2 Matt Staneff’s Journey With LIONSCOVE PAGE 3 Spicy Pinto and Tempeh Chili PAGE 3
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Deliver a consistent return. Our intention has always been to deliver a consistent return while preserving capital. For 2025, we believe investor returns will likely be between 7%–8% annualized. The proportion of new loans that have been originated under the strategy listed above continues to increase, thereby providing consistency and predictability to the fund. This has served to establish a new foundation that we are building upon moving forward. By establishing a loan loss reserve, we feel confident that any unknown adverse impacts can be absorbed with the reserve, if necessary, which will preserve capital while staying on track to deliver a 7%–8% annualized return. We appreciate your belief and trust in LIONSCOVE and will continue working hard to deliver on the goals we laid out for 2025.
assets are <5% of the portfolio. At that point, we will manage the loan loss reserve to be about 1% of the assets under management of the fund. Any excess loan loss reserve at that time will be released to investors as additional earnings.
—Liam Leonard
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