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LOAN SUMMARY | 1309 HARTFORD AVE 1309 Hartford Ave SW, Atlanta, GA 30310

Cb29317de6a4d3796855cbe8b6273f4e37f346e4

BORROWER


Rate
Projected Term
Loan To ARV
Loan Amount
Investors
13%
6 months
64.0%
$80,000
0
Purpose
Loan Position
Total Loan Amount
Loan Status
Renovation
First Lien
$80,000
Repaid on 02/29/2016
Started on
Funded on
Repaid on
Matured on
08/17/2015
09/21/2015
02/29/2016
03/28/2016

FINANCIAL OVERVIEW

After Repair Value (ARV)
$125,000
Total Project Costs
$40,000
$85,000
GROUNDFLOOR
$80,000
0%
Skin-in-the-Game
First Lien Loan
Cushion
Purchase Price
$40,000
Purchase Date
04/17/2015
Loan To ARV
64.0%
Loan To Total Project Cost
200.0%

Grade Factors

The following factors determine in part how the loan was graded:
(in descending order of importance)
Loan To ARV Score
3
10
Quality of Valuation Report
2
4
Skin-in-the-Game
7
10
Location
2
8
Borrower Experience
4
5
Borrower Commitment
2
1

VALUATION REPORTS

As Complete (ARV)
$125,000
Certified Independent Appraisal
Broker's Price Opinion
Borrower Provided Appraisal
Borrower Provided Comps

PROPERTY PHOTOS

MISCELLANEOUS

PROJECT SPECIFIC RISK FACTORS
  • The property was purchased for $40,000 and $30,000 of the proceeds from our loan 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 $10,000 that is tied up in the project after completion of our loan.
  • The renovation will be subject to a clean title search, and the resolution of any title or tax issues.
  • The renovation is 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.
  • Please consult the Offering Circular. for further discussion of general risk factors.
CLOSING CONDITIONS
  • Loan is conditioned upon a clean title search and valid title insurance at the time of close.
DEVELOPER FEES
  • We generally charge borrowers an origination fee (which typically ranges between 2% and 6% of the principal loan amount) and a servicing fee (which typically ranges between 0.5% and 2%) for our services.
  • We do not take a "spread" on any part of the interest payments.
  • Borrowers may capitalize the cost of closing into the principal amount of their request. These closing costs typically range from $500 to $1500.
  • Unless otherwise limited by applicable law, we will charge a penalty of up to 2% for any extension made to the Borrower. See “Fees and Related Expenses” in the Offering Circular.
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.