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LOAN SUMMARY | 212 WEST VOLANT STREET 212 West Volant Street, Hubert, NC 28539

5d3ffc35adc874df3911912cf964dbf2834c2a45

BORROWER


Rate
Projected Term
Loan to Value Range
Loan Amount
Investors
9.6%
12 months
60.6%
$66,000
0
Purpose
Loan Position
Total Loan Amount
Loan Status
Acquisition & Renovation
First Lien
$66,000
Repaid on 12/01/2016
Started on
Funded on
Repaid on
Matures on
08/01/2016
08/11/2016
12/01/2016
08/14/2017

LOAN UPDATES

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GROUNDFLOOR - 11/16/2016

We are pleased to advise that the property is subject to a contract of sale. Closing is currently scheduled to occur on or before 6 December 2016.

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GROUNDFLOOR - 9/28/2016
The borrower has advised that the works have been completed and professional photos will be taken before the end of this week. The property will then be listed for sale.
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GROUNDFLOOR - 9/13/2016

We are pleased to advise that closing of the loan occurred on 15 August 2016. The borrower has diligently conducted the renovation works and has advised that it is anticipated that all renovation works will be completed by the end of September 2016.

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GROUNDFLOOR - 8/11/2016

This loan was fully funded on 8/11/2016 by 100 investors. 

FINANCIAL OVERVIEW

After Repair Value (ARV)
$109,000
Total Project Costs
$75,000
$34,000
GROUNDFLOOR
$66,000
$9,000
0%
Skin-in-the-Game
First Lien Loan
Cushion
Purchase Price
$57,000
Purchase Date
TBD
Loan To ARV
60.6%
Loan To Total Project Cost
88.0%

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)
$109,000
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 and renovate the property. Upon completion, the Borrower intends to sell 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.