About the Business
Vagabond Tiny Homes Ltd.
1624 42 St SW
Vagabond Tiny Homes is an Alberta Corporation.
The founding of Vagabond Tiny Homes, is about as conventional as their houses. While finishing his Masters Degree and soon to start med school, the founder Thomas Grenier, decided to build his own house from scratch. This may seem like a strange origin story for the company, but one only needs to look to Thomas’s grandfather, a major influence in his life, to fit it all together. Thomas’s grandfather was an avid builder, tinkerer and handiman, always with something on the go in his shop. He was both the inspiration for Vagabond Tiny Homes and the first person Thomas shared his business idea with.
Thomas cares greatly about environmental sustainability, seeking to provide another option for those wanting to live comfortably, with less impact on the earth. As well, we cares deeply about improving the quality of affordable housing available, particularly for remote northern communities. In our age of increasing rental and housing costs, tiny homes may be one of the solutions.
Thomas Grenier owns 100% of Vagabond Tiny Homes Inc.
Description of Business
Vagabond Tiny Homes builds custom, high-quality homes ranging in size from 100 to 400 square feet. While they might be small, they have no lack of comforts. Each house is packed full of all the amenities of a conventional sized house, all beautifully designed and intelligently laid out. Their houses are more than just a place to sleep, they are truly a home.
Tiny houses come in all shapes, sizes, and forms, but they enable simpler living in a smaller, more efficient space. People are joining this movement for many reasons, but the most popular include reducing environmental impact, soaring house costs and the desire for more time and freedom. These motivating values speak to why Vagabond Tiny Homes has spent the better part of the past year in conversations with the Canada Mortgage and Housing Corporation (CMHC). Their aim is to test a tiny home community as a potential tool for low-income housing in big cities and northern communities where access to affordable housing is a chronic issue. While tiny houses are not for everyone, they are a thought-provoking and innovative response to our changing times.
Use of the Funds
Vagabond has just completed their first home and will soon have it up for sale. They have had a lot of interest in their homes so far, with some of their future production time already booked by customers wanting their own tiny home. The $75,000 LendR loan will allow them to build more homes, the sale of which will fund further homes, growing their business. In addition the loan will assist them in:
Terms of LendR Loans
Loans will have a term of 2 years (24 months), beginning after the loan is successfully funded. Vagabond Tiny Homes inc. will repay the principal plus 15% interest, calculated as a blended loan. Vagabond Tiny Homes Inc. will make monthly payments of 1/24 the total repayment amount. If Vagabond Tiny Homes Inc. chooses to repay the loan early, the principal plus the full interest remaining in the 24 month period must be paid.
Vagabond Tiny Homes Inc. has been in operation less than two years. There are financial, operational, and market risks for any young business. Some that apply specifically to this business include:
This Lending Profile does not contain a statement that, in a material respect and at the time and in light of the circumstances in which it is made, is misleading or untrue and it does not fail to state a fact that is required to be stated or that is necessary to make a statement not misleading.
Certified as of: July 27, 2017
By: Thomas Grenier