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LOAN SUMMARY | 2290 NORTH COCHRANE ROAD 2290 North Cochrane Road, Avon Park, FL 33825

42c18d98bb1a5d0b848baaafc8e3abdc52b942ce

BORROWER


Rate
Projected Term
Loan to Value Range
Loan Amount
Investors
13%
6 months
50.0%
$50,000
0
Purpose
Loan Position
Total Loan Amount
Loan Status
Acquisition & Renovation
First Lien
$50,000
Repaid on 02/14/2017
Started on
Funded on
Repaid on
Matures on
08/10/2016
09/01/2016
02/14/2017
02/25/2017

LOAN UPDATES

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GROUNDFLOOR - 1/24/2017

The borrower has advised that the refinance of the property has been secured and will be completed on or before the projected loan repayment date.

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GROUNDFLOOR - 1/23/2017

The borrower has advised that it is currently working to refinance the property.

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GROUNDFLOOR - 12/7/2016

The borrower has advised that the house has been shown about 4 times the last two weeks. 

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GROUNDFLOOR - 11/2/2016

The borrower has advised that the property is listed for sale and has been viewed by potential buyers. 

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GROUNDFLOOR - 10/5/2016
We are please to advise that the renovation works at the property are substantially complete. Based on information provided by the borrower, the property will be listed for sale by 10/8/16.

FINANCIAL OVERVIEW

After Repair Value (ARV)
$100,000
Total Project Costs
$75,000
$25,000
GROUNDFLOOR
$50,000
$25,000
0%
Skin-in-the-Game
First Lien Loan
Cushion
Purchase Price
$50,000
Purchase Date
TBD
Loan To ARV
50.0%
Loan To Total Project Cost
66.7%

GRADE FACTORS

The following factors determine in part how the loan was graded:
(in descending order of importance)
Loan To ARV Score
6
10
Quality of Valuation Report
3
4
Skin-in-the-Game
5
10
Location
4
8
Borrower Experience
1
5
Borrower Commitment
1
1

VALUATION REPORTS

As Complete (ARV)
$100,000
Certified Independent Appraisal
Broker's Price Opinion
Borrower Provided Appraisal
Borrower Provided Comps

PROPERTY DESCRIPTION

The Borrower intends to use the loan proceeds to complete a renovation to 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.