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LOAN SUMMARY | 215 South 6th Street, Newark, NJ 07103

BORROWER

Evolutionary Marketing LLC
Christian Chavez - principal
Rate
Projected Term
Loan To ARV
Loan Amount
Investors
16%
12 months
67.1%
$228,000
0
Purpose
Loan Position
Total Loan Amount
Loan Status
Refinance - Rehab
First Lien
$228,000
Repaid on 10/30/2019
Started on
Funded on
Repaid on
Matured on
04/08/2016
03/19/2016
10/30/2019
04/08/2017

FINANCIAL OVERVIEW

After Repair Value (ARV)
$340,000
Total Project Costs
$260,000
$80,000
GROUNDFLOOR
$228,000
$32,000
0%
Skin-in-the-Game
First Lien Loan
Cushion
Purchase Price
$220,000
Purchase Date
10/08/2014
Loan To ARV
67.1%
Loan To Total Project Cost
87.7%

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
3
4
Skin-in-the-Game
1
10
Location
4
8
Borrower Experience
4
5
Borrower Commitment
1
1

VALUATION REPORTS

As Complete (ARV)
$340,000
Certified Independent Appraisal
Broker's Price Opinion
Borrower Provided Appraisal
Borrower Provided Comps

PROPERTY PHOTOS

MISCELLANEOUS

PROJECT SPECIFIC RISK FACTORS
  • The Borrower is using $200,000 of the loan proceeds to pay off an existing loan that was used to acquire the property. Groundfloor will assume the first lien position. The rest of the loan proceeds will be put towards the renovate of the property, much like an acquisition and renovation loan.
  • 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 funding of this senior loan will be subject to a clean title search, and the resolution of any title or tax issues.
  • Please consult the Offering Circular