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LOAN SUMMARY | 1004 CREEL DRIVE 1004 Creel Drive, Moody, AL 35004

37a9ef848139ce3816258f3109642f1bfe964f1c

BORROWER


Rate
Projected Term
Loan to Value Range
Loan Amount
Investors
7.4%
12 months
47.0%
$50,000
0
Purpose
Loan Position
Total Loan Amount
Loan Status
Renovation
First Lien
$50,000
Repaid on 09/08/2016
Started on
Funded on
Repaid on
Matures on
05/19/2016
06/08/2016
09/08/2016
06/16/2017

LOAN UPDATES

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GROUNDFLOOR - 7/22/2016

The Borrower has advised that the renovation works have been completed.

Gf triangle
GROUNDFLOOR - 7/7/2016

Landscaping is complete. In addition, renovations on the interior walls, insulation, electric and plumbing systems are complete. Renovations to the kitchen and renovations to the interior doors are in progress. 

Gf triangle
GROUNDFLOOR - 6/9/2016

This loan was fully funded on 6/8/2016 by 66 investors. 

FINANCIAL OVERVIEW

After Repair Value (ARV)
$259,000
Total Project Costs
$205,700
$53,300
GROUNDFLOOR
$50,000
$155,700
0%
Skin-in-the-Game
First Lien Loan
Cushion
Purchase Price
$184,000
Purchase Date
05/18/2016
Loan To ARV
19.3%
Loan To Total Project Cost
24.3%

Grade Factors

The following factors determine in part how the loan was graded:
(in descending order of importance)
Loan To ARV Score
9
10
Quality of Valuation Report
4
4
Skin-in-the-Game
10
10
Location
4
8
Borrower Experience
4
5
Borrower Commitment
1
1

VALUATION REPORTS

As Complete (ARV)
$259,000
Certified Independent Appraisal
Broker's Price Opinion
Borrower Provided Appraisal
Borrower Provided Comps

PROPERTY DESCRIPTION

The Borrower intends to use the loan proceeds to complete a renovation to the property and refinance the property to repay the Groundfloor loan.

PROPERTY PHOTOS

THE COMPANY PLAYED NO ROLE IN THE PREPARATION OF ANY OF THE VALUATION SOURCES OR ANY OTHER MATERIALS PROVIDED BY THE BORROWER. WHILE WE BELIEVE THE DATA CONTAINED THEREIN IS HELPFUL, WE DO NOT USE IT AS THE SOLE BASIS FOR A FUNDING DECISION.