Quick answer
Iron Bridge Mortgage Fund, LLC is offering Units: Class B, C, and D under Regulation A (Tier 2), the SEC exemption sometimes called a "mini-IPO," at $1.00 per Unit with a minimum investment of $50,000. As of October 20, 2026, the offering was open to investors.
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At a glance
| Status | Open |
|---|---|
| Status detail | Open (Units offered on a continuous basis; 253G2 dated Sept 25, 2026); no online subscription portal, investors contact the issuer |
| Sector | Real estate lending (short-term first-lien mortgage REIT) |
| Exemption | Regulation A, Tier 2 |
| Security | Units: Class B, C, and D (Class A available only to Manager employees) |
| Price | $1.00 per Unit |
| Minimum investment | $50,000 (50,000 Units), may be waived by the Manager |
| Valuation | Not stated as NAV per Unit. Members' equity was $76,913,878 at June 30, 2026 (Form 1-SA). |
| Maximum offering | $52,000,000 (6,000,000 Class A; 19,000,000 Class B; 19,000,000 Class C; 8,000,000 Class D Units) |
| Preferred return | Cumulative, non-compounded: Class B 9%, Class C 6%, Class D 5% |
| Loan servicing fee | 2% per year of loan principal, under a waiver; up to 3% allowed |
| Credit line | $80M with Columbia Bank, through July 5, 2028; $59,919,649 drawn at 6/30/26 |
| Redemption | About 5% of NAV per quarter (about 20% per 12 months); price is the lesser of NAV or the offering price |
| Geography | California 74.84%, Oregon 11.45%, other 13.71% (6/30/26) |
| Manager fees paid | $3,407,661 (2025); $3,880,375 (2024) |
| Offering term | Open until $52,000,000 of Units is sold, unless the Company ends it earlier at its sole discretion |
| Selling agent / intermediary | Self-underwritten / issuer-direct (no commissioned sales agents or underwriters) |
| SEC qualification | 2026-09-25 |
The company
Iron Bridge Mortgage Fund has made loans since April 2009. It lends to real estate investors, mostly on residential property, secured by first-lien deeds of trust, with terms of 12 months or less and loan amounts generally no more than 70% of after-repair value. It is managed by Iron Bridge Management Group, led by CEO Gerard Stascausky, and has elected REIT tax status.
The fund offers up to $52 million of $1.00 Units in classes that carry different cumulative preferred returns: 9% for Class B, 6% for Class C, and 5% for Class D. The minimum is $50,000, and there is no broker-dealer. The book is partly funded by an $80 million bank credit line that ranks ahead of unitholders.
What the company says
The following statements come from the issuer's offering circular and investor materials and have not been independently verified by RegAMagazine:
- The company says it has had no investor losses since it was founded in 2009.
- The circular reports that all redemption requests from Jan 2021 through May 2026, covering 63,847,314 Units, were fulfilled.
- As of June 30, 2026, the fund reported 271 secured loans to 177 borrowers totaling about $137.1 million.
- The fund targets non-guaranteed preferred returns of 9% (Class B), 6% (Class C), and 5% (Class D).
Questions we'd ask before investing
- With about 75% of loans in California, how would a regional housing downturn affect the loan book, and what are the expected recoveries on the two loans in foreclosure and the three California properties held for sale?
- How do the 2% loan servicing fee (which can rise to 3% under the new operating agreement) and any origination points kept by the Manager affect net returns by class?
- What happens to unitholders if Columbia Bank tightens or does not renew the $80 million credit line (about $59.9M drawn at June 30, 2026)?
Key risks
- Leverage: the senior bank credit line ranks ahead of unitholders, and the fund targets using 50% to 80% of it, which magnifies losses.
- Redemption limits: redemptions are capped at about 5% of NAV per quarter, paid at the lesser of NAV or $1.00, can be suspended on 10 days' notice, and large requests may be paid in monthly installments.
- Concentration and credit risk: the book is heavily weighted to California short-term investor loans, with some loans already in foreclosure or on non-accrual, and preferred returns are not guaranteed.
- General Reg A risks apply: most Reg A securities have no trading market, the price is usually set by the issuer rather than negotiated, non-accredited investors in Tier 2 offerings are limited to 10% of the greater of annual income or net worth, and you can lose your entire investment. See our Investor Risk Guide.
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RegAMagazine has not received any compensation, in cash, securities or otherwise, from this issuer, its selling agents, or any other party in connection with this profile. RegAMagazine may accept compensation for coverage in the future; if it does, this disclosure will be updated to state the amount, form and source of that compensation.
RegAMagazine.com is an independent publication. This profile is for information only. It is not investment advice, and it is not an offer to sell, a solicitation to buy, or a recommendation of any security. Offers are made only by the issuer's SEC-qualified offering circular. Figures and statements are drawn from the issuer's offering circular, SEC filings and investor materials and have not been independently verified. Regulation A securities are speculative and usually illiquid, and you may lose your entire investment. Read the offering circular, including its risk factors, before investing.
Data as of October 20, 2026.
Sources
- Offering circular filed with the SEC (EDGAR): https://www.sec.gov/Archives/edgar/data/1462371/000147793226005802/iron_253g2.htm
- Issuer investment page: https://ironbridgelending.com/investors/
- SEC EDGAR full-text search for the issuer's filings: https://www.sec.gov/edgar/search/#/q=%22Iron%20Bridge%20Mortgage%20Fund%22
Last verified: October 20, 2026. Offering terms change; check the sources above for current figures.
Cite this page
RegAMagazine. "Iron Bridge Mortgage Fund, LLC Reg A+ Offering: Terms, Risks & Profile." RegAMagazine.com, October 20, 2026. https://regamagazine.com/reg-a/iron-bridge-mortgage-fund/