Follow Semble  
  • twitter header
  • facebook header
  • linkedin header

Borrower: Polestar Gardens

Issuer: Friends of Polestar, LLC

Minimum Loan Goal: $500,000.00

Total Loan Requested: $870,000.00

Amount Committed to Date: $682,200.00

Total Investors: 33
Investors Accepting Reduced Returns: 11

Clicking “Get Started” and communicating your level of interest is not a binding commitment.

*This listing is for informational purposes and is not an offer to sell or a solicitation of an offer to buy any securities. Any offering or solicitation is restricted to qualified prospective investors who support the efforts of Polestar Gardens, who have reviewed a confidential offering memorandum and who have executed the subsequent subscription documentation.

*Persons accessing this site are deemed to represent that they will not use the information herein to offer to purchase securities in a manner that would violate restrictions set out in the information or any securities laws of any jurisdiction.

Share this

Loan Details

Current Progress

Funded: 78.4%

Term of Loan:

5 years

Maximum Rate To Investors:

4.00%

Current Effective Rate:

3.72%   

Relevant Loan Information

View Loan Information ›

  • Reason for Loan
  • Community Impact
  • History

The purpose of this loan is to capitalize new housing and infrastructure, and to refinance our existing mortgage and other loans at a lower rate. The net effect of this effort will be to reduce our monthly payment by about $1600 and provide an increased revenue stream of some $2000 per month. Additional savings are mentioned below.

Capital Improvements:  $220,000

Mortgage (currently at 8%):  $480,000

Additional Debts: $150,000

Breakdown of Proposed Capital Improvements:

  • Guest Housing units:  $120,000 (will result in $2,000 per month increase in revenue)

  • Infrastructure / Planning / upgrades:  $53,000 (Phase one temple deck; Garden and Farm Expansion, use permit; walking trail; temple improvements; community center upgrade; etc.)

  • Power System:  $40,000 (This investment will pay for itself in under 8 years through reduced generator, gas, and battery costs.)

  • Solar Water Heater:  $7,000 (This investment will pay for itself in under 5 years through reduced propane use)

The values and unique patterns of living expressed at Polestar, once set into motion and established, have the potential we believe, to continue well beyond the lives of our current participants. “Simple living and high thinking’ (as Yogananda called it); a culture based on mutual respect and kindness; an understanding of our purpose here and of the privilege of being of service to each other; and the aspiration of each individual soul for a deep connection to Life; all are ideals that, once nurtured, can grow and thrive in the garden of our communities.

Since its creation in the year 2000, Polestar has hosted hundreds of programs, retreats, workshops, classes, service projects, performances, apprenticeships and adventures for students of all ages. Our core ideal is the power of community in education; that it ‘takes a village’ to not only raise a child but to ensure a connected, fulfilled, and meaningful life for all. Through our on-going service projects, many of them with other schools and non-profits, we have forged many deep connections which are expanding this concept of service in the greater community.  Polestar provides a drug and alcohol free environment for all to enjoy.  This is especially helpful for those who struggle against these things and for the many youths who need role models that can demonstrate all the amazing fun, creativity, adventure and joy that can be had without them.

As a multi-generational community, Polestar’s daily life is full of opportunities to connect with friends of all ages. We hold this to be an especially valuable part of the magic of community: the opportunity to learn and grow with a wide variety of people of all ages and temperaments.   

The Gardens at Polestar have to be seen (and eaten from!) to be believed. With prodigious avocado, banana, and vegetable crops, we currently grow more than half of our daily food. Our fruit and nut orchard, which includes mango, citrus, lychee, soursop, rollinia, star fruit, abiu, macadamia nuts, cashews, and much more, was planted 5 years ago and is already producing. We have very ambitious plans for expanding our sustainable agriculture projects and the coming years will only get better. We also produce about 90% of our electrical power from the sun and more than adequate rainfall supplies all our needs for water. The lifestyle at Polestar then, along with being generally wholesome and uplifting, is certainly easy on the earth, and largely sustainable. Commenting on all this after he had toured the grounds and garden, a Hawaiian Elder noted “You are truly Hawaiian”!

Your much-needed investment will allow these many initiatives already underway to continue to ‘bear fruit’ – Mahalo!

 

Incorporated as an educational non-profit (501c3) in the year 2000, Polestar has dedicated the last 13 years to: “providing dynamic opportunities for learning through the creation of residential learning centers and intentional communities that offer educational classes, workshops, mentorships, and apprenticeships....and to promote and enhance creative life-long learning for all ages."  Founders and current directors Ann and Michael Gornik have a combined 70-year history of successful community building; teaching and directing schools; mentoring youth; guiding workshop and family camps; meditation and yoga; coaching team athletics;  producing community-based cultural, musical and dramatic performances and events, as well as in residential and commercial construction. Polestar’s core group includes a wealth of experience in community living including organic gardening and permaculture, animal husbandry, technology and digital arts, midwifery, art, music, and drama, architecture, and much, much more.

Polestar began operations in Sonoma County, California in the summer of the year 2000. Early years included a residential learning center, ongoing spiritual, educational, and cultural events, and apprenticeship opportunities for young adults. Unable to find suitable land for expansion, Polestar moved to the Big Island in early 2005. Within three years, the new land was purchased and the new community was under construction. The years that followed produced a wealth of opportunities for Polestar to serve and expand that continue to this day. With gardens, greenhouses, photovoltaic systems, houses, temples, and much more to be designed and created, the building of Polestar has been not only a primary educational event, but a large part of our spiritual practice as well. Students from all over the world have come to help, to learn, and to add their unique energy to this creative process and we are deeply grateful for their contributions! Many of them have found their experience here to be transformational.  All during this time, Polestar continues to host community service projects, youth camps, yoga and meditation for the benefit of the greater community.

 

Questions and Answers

Q. What is the next step?

A. At the point that you are ready to participate, select "Get Started" and follow the simple steps. It takes about 2 minutes to enter the basic information, including your email address, amount you want to invest, and the rate of return you would like to receive. Choosing to take this first step is not a binding commitment.

Q. What if I want to get my money out before the end of the investment term?

A. If you plan on needing access to the funds prior to the maturity of the investment, it is encouraged that you not invest since there are currently no well-defined secondary markets for the investment. In the case of hardship, best efforts will be made to see if someone else would like to take your position, although there are no guarantees.

Q. Can I make an investment using retirement funds?

A. Yes, but you are not typically able to direct funds from your current employer 401(k) or 403(b). If the instructions online are not clear or if you have questions, please contact Semble.

Q. Are there costs in using retirement account (i.e. IRA) to invest?

A. Yes, all custodians will charge a fee for holding this type of investment because they are not compensated through the normal fees they realize in holding traditional investments (stocks, bonds, mutual funds, etc.). The fee varies based on the custodian. The IRA custodian that is the preferred provider through Semble has a flat annual cost of $100/yr. This cost should be taken into consideration when making an investment. There are no costs to invest using non tax-deferred funds since there is no need for custodial involvement.

Q. Can I share this opportunity with others I know that support the borrowing organization?

A. Yes! If you know friends and family that are socially minded investors who might like to realize community impact with their investment dollars, you can forward this link to them.