C

LOAN SUMMARY | 1220 National Avenue, New Bern, NC 28560

BORROWER

Stewardship Home Solutions LLC
George Goddard - principal
Rate
Projected Term
Loan To ARV
Loan Amount
Investors
11%
12 months
58.9%
$95,400
0
Purpose
Loan Position
Total Loan Amount
Loan Status
Purchase & Renovation
First Lien
$95,400
Repaid on 01/11/2018
Started on
Funded on
Repaid on
Matured on
01/23/2017
04/04/2017
01/11/2018
01/22/2018

FINANCIAL OVERVIEW

After Repair Value (ARV)
$162,000
Total Project Costs
$109,816
$52,184
GROUNDFLOOR
$95,400
$14,416
0%
Skin-in-the-Game
First Lien Loan
Cushion
Purchase Price
$50,000
Purchase Date
TBD
Loan To ARV
58.9%
Loan To Total Project Cost
86.9%

Grade Factors

The following factors determine in part how the loan was graded:
(in descending order of importance)
Loan To ARV Score
5
10
Quality of Valuation Report
3
4
Skin-in-the-Game
2
10
Location
4
8
Borrower Experience
4
5
Borrower Commitment
1
1

VALUATION REPORTS

As Complete (ARV)
$162,000
Certified Independent Appraisal
Broker's Price Opinion
Borrower Provided Appraisal
Borrower Provided Comps

PROPERTY DESCRIPTION

1220 NATIONAL AVENUE, NEW BERN, NC 28560
The Borrower intends to use the loan proceeds to purchase and renovate the property. Upon completion, the Borrower intends to sell the property to repay the Groundfloor loan.

PROPERTY PHOTOS

MISCELLANEOUS

PROJECT SPECIFIC RISK FACTORS
  • We advanced the Borrower the money it needed to purchase this property on January 23, 2017 through a wholly owned subsidiary. The Borrower is now in possession of the property. If this offering is fully subscribed, the property will be assigned to us from the subsidiary, and we will continue to administer and service the loan per the terms of our Offering Circular.
  • 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 Borrower has only undertaken one project in the past, and has not sold it yet. As such, the Borrower's average revenue, costs, and margins cannot be calculated.
  • Please consult the Offering Circular