Pro Capital acquires municipal tax liens at public auctions held by municipalities in the State of New Jersey, New York and Florida. These entities use the money Pro Capital provides to fund municipal services and public education.
Pro Capital performs due diligence on the properties (collateral) underlying the tax liens, evaluates historical asset performance by region and type. Bidding parameters are set using an internally developed proprietary bidding system. Purchased tax liens are tracked in a tax lien tracking system when the property owner pays back taxes to the municipality along with interest and any additional fees due, these monies are forwarded to Pro Capital. Most tax liens are redeemed during the statutory redemption period. If however, the lien is not redeemed within the applicable time period Pro Capital may elect to begin the foreclosure proceedings.
Pro Capital advances funds to municipalities which are vital to providing governmental services. Payments made to municipalities for tax liens are essentially advances, which are secured by real estate (collateral) and assume a preferred position over mortgages and other lien holders.
Pro Capital was founded in 2009 with two managing principals:
