In this article, we'll walk you through the necessary steps to begin your investing journey with Upright.
Account Setup
As you are getting started, remember there is no fee to use our platform. To start investing with Upright, you will first need to create an investing entity. To do this, navigate to the "Accounts and Balances" tab of your dashboard. There, you should see the "Add New Entity" tab. Click on it, choose the appropriate entity, and then enter the appropriate information. Once your investing entity is created, you are ready to invest.
If you would like to be able to fund your investment via ACH, you will need to add and verify a bank account. You can still invest without a bank account, but your investment will need to be funded by wire. To add an account, go to your "Accounts and Balances" tab on your dashboard, and click on the green, "Add Bank Account" button. At this point you may proceed with microdeposits, or through our trusted partner Plaid.
Once you make your first investment, IR will email you with a link to our third party verifiers, Parallel Markets. You can sign in using the link we provide and upload your documents. Parallel Markets will review them and send us an accreditation certificate. In that email from IR will also be a letter template that you can send to your attorney, CPA or financial adviser. If they complete the letter, sign it and return it, that will also suffice for accreditation verification.
Making an Investment
It only takes a few minutes to make an investment. Once you enter the amount you wish to invest, you will need to choose your investing entity and your payment method. After that all you need to do is sign your subscription agreement.
The payment method you choose for your investment determines how long it will take for it to settle. If you invest from your Upright Wallet, your investment should settle the same day. If your investment originated from an ACH, it should take 3-5 business days. A wire will settle the day after you send the wire.
Before you finalize an investment, there are a few documents you will need to review. First is our Investor Agreement, a binding agreement that you sign to finalize your investment. Next is the Upright Indenture. The Indenture contains provisions that define Note holders’ rights under the Notes. In addition, the Indenture governs the obligations of the Company under the Notes. Third is the Private Placement Memorandum, a document that discloses the risks of investing in a privately offered security, such as a Borrower Dependent Note (BDN). A BDN is what you are purchasing with your investment. The BDN also contains the Series Disclosure Sheet which describes the terms of your investment.
Our investment process is all done online. Once you have selected the deal you wish to invest in from invest.app.upright/deals you will need to select the amount, investing entity and payment method for your investment. After that you will be redirected to the subscription agreement. You will have the ability to sign the subscription agreement by either typing or drawing your signature. Once that is completed your investment will be processed.
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