B

LOAN SUMMARY | 2149 Newnan Street, East Point, GA 30344

BORROWER

Sunshine Construction Group LLC
Tram Ngoc Phan - principal
Rate
Projected Term
Loan To ARV
Loan Amount
Investors
9.6%
12 months
60.6%
$113,200
0
Purpose
Loan Position
Total Loan Amount
Loan Status
Purchase & Renovation
First Lien
$113,200
Repaid on 11/09/2017
Started on
Funded on
Repaid on
Matured on
11/16/2016
02/05/2017
11/09/2017
11/15/2017

FINANCIAL OVERVIEW

After Repair Value (ARV)
$186,887
Total Project Costs
$125,700
$61,187
GROUNDFLOOR
$113,200
$12,500
0%
Skin-in-the-Game
First Lien Loan
Cushion
Purchase Price
$30,000
Purchase Date
11/15/2016
Loan To ARV
60.6%
Loan To Total Project Cost
90.1%

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)
$186,887
Certified Independent Appraisal
Broker's Price Opinion
Borrower Provided Appraisal
Borrower Provided Comps

PROPERTY DESCRIPTION

2149 NEWNAN STREET, EAST POINT, GA 30344
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
  • LROs for this loan were originally issued by Groundfloor on December 27th, 2016. Those LROs were subsequently refunded because we did not renew our sales authorization with the various states on time. We are offering these LROs for purchase again under the original terms. Please see PQA 39 in the "SEC Filing Information" section below.
  • We advanced the Borrower the money it needed to purchase this property on November 16, 2016 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. Some of the proceeds from the sale of LROs will be used to repay the subsidiary for the portion of the loan it has already advanced.
  • 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 not undertaken any projects in the past year. As such, the Borrower's average revenue, costs and margins cannot be calculated.
  • Please consult the Offering Circular