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LOAN SUMMARY | 2669 Ferris Road, Columbus, OH 43224

BORROWER

EKO LTD
Redith Folden - principal
Rate
Projected Term
Loan To ARV
Loan Amount
Investors
14.5%
12 months
63.6%
$70,570
0
Purpose
Loan Position
Total Loan Amount
Loan Status
Refinance - Rehab
First Lien
$70,570
Repaid on 01/22/2019
Started on
Funded on
Repaid on
Matured on
08/18/2017
09/30/2017
01/22/2019
08/17/2018

FINANCIAL OVERVIEW

After Repair Value (ARV)
$111,000
Total Project Costs
$85,599
$25,401
GROUNDFLOOR
$70,570
$15,029
0%
Skin-in-the-Game
First Lien Loan
Cushion
Purchase Price
$20,000
Purchase Date
01/01/2007
Loan To ARV
63.6%
Loan To Total Project Cost
82.4%

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
2
10
Location
4
8
Borrower Experience
1
5
Borrower Commitment
1
1

VALUATION REPORTS

As Complete (ARV)
$111,000
Certified Independent Appraisal
Broker's Price Opinion
Borrower Provided Appraisal
Borrower Provided Comps

PROPERTY DESCRIPTION

2669 FERRIS ROAD, COLUMBUS, OH 43224
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

MISCELLANEOUS

PROJECT SPECIFIC RISK FACTORS
  • The Borrower was advanced the money it needed to begin renovation of this property on August 18, 2017 by Groundfloor Finance Inc. (“Groundfloor,” “we,” “us,” or “our”) or a wholly-owned subsidiary of Groundfloor. The Borrower is now in possession of the property. If this offering is fully subscribed, Groundfloor will continue to administer and service the loan as further described in the Offering Circular.
  • 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 property was purchased for $20,000. The Borrower has contributed $10,000 of its own funds to the total project cost. The Borrower intends to use $18,153 of the proceeds from our loan to offset a portion of the purchase price of the property and the added funds. Therefore, the Borrower is only receiving a "Skin-in-the-Game" score for the remaining $11,847 that is tied up in the project after completion of our loan.
  • The Borrower has not undertaken any projects since its inception. As such, the Borrower does not have any Financial Data or Projects/Revenue to report for the applicable reporting periods.
  • The Principal has not undertaken any project in the past. As such, the Principal's experience, average revenue, costs, and margins cannot be calculated.
  • Please consult the Offering Circular