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LOAN SUMMARY | 5388 KIRK DRIVE 5388 Kirk Drive, Atlanta, GA 30349

1b07a1eed06b6c364b8b877b57c1442f5a95cab9

BORROWER


Rate
Projected Term
Loan to Value Range
Loan Amount
Investors
16%
9 months
69.1%
$76,000
0
Purpose
Loan Position
Total Loan Amount
Loan Status
Acquisition & Renovation
First Lien
$76,000
Repaid on 12/01/2016
Started on
Funded on
Repaid on
Matures on
06/10/2016
06/22/2016
12/01/2016
03/27/2017

LOAN UPDATES

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GROUNDFLOOR - 11/16/2016

The borrower has advised that the property is subject to a contract of sale. Closing is scheduled to occur on or before the end of November, 2016.

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GROUNDFLOOR - 10/4/2016

There is no update on the status of this loan.

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GROUNDFLOOR - 9/7/2016

The borrower has advised that the property has gone under contract.

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GROUNDFLOOR - 7/22/2016

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

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GROUNDFLOOR - 6/22/2016

This loan was fully funded on 6/22/2016 by 108 investors. 

FINANCIAL OVERVIEW

After Repair Value (ARV)
$110,000
Total Project Costs
$76,000
$34,000
GROUNDFLOOR
$76,000
0%
Skin-in-the-Game
First Lien Loan
Cushion
Purchase Price
$50,000
Purchase Date
TBD
Loan To ARV
69.1%
Loan To Total Project Cost
100.0%

GRADE FACTORS

The following factors determine in part how the loan was graded:
(in descending order of importance)
Loan To ARV Score
4
10
Quality of Valuation Report
4
4
Skin-in-the-Game
0
10
Location
4
8
Borrower Experience
5
5
Borrower Commitment
1
1

VALUATION REPORTS

As Complete (ARV)
$110,000
Certified Independent Appraisal
Broker's Price Opinion
Borrower Provided Appraisal
Borrower Provided Comps

PROPERTY DESCRIPTION

The Borrower intends to use the loan proceeds to purchase the property and complete a renovation to prepare it for sale.

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.