A

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

37a9ef848139ce3816258f3109642f1bfe964f1c

BORROWER


Rate
Projected Term
Loan To ARV
Loan Amount
Investors
7.4%
12 months
19.3%
$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
Matured on
05/19/2016
06/09/2016
09/08/2016
06/16/2017

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

MISCELLANEOUS

PROJECT SPECIFIC RISK FACTORS
  • The property was purchased for $184,000. The Borrower intends to use $28,300 of the proceeds to offset that amount of the purchase price of the property. Therefore, the Borrower is only receiving a "Skin-in-the-Game" score for the remaining $155,700 that is tied up in the project after completion of our loan.
  • The Borrower is a new entity and does not have any assets or operating history.
  • The renovation of the property may be extensive, and therefore subject to delays and other unexpected issues.
  • The renovation will require permitting, and permits may not be obtained on time or may be denied.
  • The funding of this senior loan will be subject to a clean title search, and the resolution of any title or tax issues.
  • Please consult the Offering Circular