Neo-Dom Funding II, LLC
Austin, TX 78701, US
Serviced by: PHOENIX FINANCING, LLC – www.PhoenixFinancing.net – The Company’s sole purpose once funded, is to finance the purchase of consumer retail installment contracts through Phoenix Financing, LLC. The Receivables to be purchased are obligations of purchasers of Home Care Systems manufactured by The Kirby Vacuum Company, a subsidiary of The Scott Fetzer Co., who is itself part of the Berkshire Hathaway group, and are originated by Kirby Company Independent Distributors. Phoenix Financing will pay a discounted percentage of the receivables’ face value when purchasing the contracts and contemporaneously assign them to the Company for the same amount. The Company will also contract exclusively with Phoenix Financing for servicing the receivables and ensuring that any amounts due by the consumers under the contracts are collected in due course. The difference between the discounted amount paid for the contracts and all cash flows (i.e., principal, interest, late fees, miscellaneous fees) received thereunder, minus (1) Phoenix Financing’s service fee and expenses, and (2) the Company’s expenses are the profits of the Company. All revenues from the portfolio would be deposited into the newly formed LLC’s accounts where funds will be disbursed to members on a currently monthly basis until all revenues have been disbursed in their entirety.
Note to Investor: Monthly cash distributions to members start within 3 months of receiving minimal funding amount of $100K.
PLEASE REQUEST A COPY OF THE COMPLETE PRIVATE OFFERING MEMORANDUM. Sales will only be made to accredited investors; no money or other consideration is being solicited or will be accepted by way of this summary announcement; the securities have not been registered with or approved by any state securities agency or the U.S. Securities and Exchange Commission and are being offered and sold pursuant to an exemption from registration.
Products / Services
Loan Servicing and Collection
By handling the back end support needed to run a successful distributorship, Phoenix Financing’s receivables management service provides Kirby Distributors the freedom to concentrate on growth and sales. In addition, Phoenix Financing services its own portfolio of purchased Receivables and offers Receivables servicing to independent portfolio companies. Phoenix Financing developed the receivable servicing program so that Kirby Distributors can step away from the backend functions needed to manage payment applications and delinquency control. Each of Phoenix Financing’ Receivables servicing collection professionals and independent contractors have several years of experience, not only in collecting a payment, but also in re-educating the consumer to make timely payments while keeping the focus on the benefits of what they are paying for. These associates wear many hats, as quite often the payment problem is not financial but simply a customer service issue that can be quickly resolved.
Joshua Knight, Manager of the Company and Managing Member of Phoenix Financing (43 yrs. old), was born in Riverside, California in 1972. Prior to founding Phoenix Financing, LLC, Joshua worked to establish himself in the direct selling industry. He has 25 years of experience in the sales industry, and specifically 16 years in direct sales of Home Care Systems manufactured by The Kirby Company. During that time he has acquired an intimate knowledge of the direct selling industry and has created an extensive worldwide network of relationships among Kirby Independent Distributors. In January of 2007, he created Phoenix Financing as an answer to the financing needs of independent distributors of the Kirby Company. He oversees all company aspects including operations, finance, business and sales development, marketing, and management.