C

LOAN SUMMARY | 36 E. NEW STREET, WINDER, GA 30680 36 E New Street, Winder, GA 30680

Df717b7198e095fed2acb1c7c313b50bca021a3b

BORROWER


Rate
Projected Term
Loan To ARV
Loan Amount
Investors
13.4%
12 months
53.8%
$70,000
0
Purpose
Loan Position
Total Loan Amount
Loan Status
Renovation
First Lien
$70,000
Repaid on 10/24/2016
Started on
Funded on
Repaid on
Matured on
12/08/2015
01/30/2016
10/24/2016
02/09/2017

FINANCIAL OVERVIEW

After Repair Value (ARV)
$130,000
Total Project Costs
$21,000
$109,000
GROUNDFLOOR
$70,000
0%
Skin-in-the-Game
First Lien Loan
Cushion
Purchase Price
$21,000
Purchase Date
04/03/2015
Loan To ARV
53.8%
Loan To Total Project Cost
333.3%

Grade Factors

The following factors determine in part how the loan was graded:
(in descending order of importance)
Loan To ARV Score
3
10
Quality of Valuation Report
2
4
Skin-in-the-Game
0
10
Location
2
8
Borrower Experience
4
5
Borrower Commitment
2
1

VALUATION REPORTS

As Complete (ARV)
$130,000
Certified Independent Appraisal
Broker's Price Opinion
Borrower Provided Appraisal
Borrower Provided Comps

PROPERTY PHOTOS

MISCELLANEOUS

PROJECT SPECIFIC RISK FACTORS
  • The Borrower is a newly formed entity, created for the purposes of completing this project. As such, the Borrower has limited operating history.
  • The funding of this senior loan will be subject to a clean title search and the resolution of any title or tax issues.
  • The Principal has only undertaken one project in the past, and has not sold it yet. As such, the Principal's average revenue and average project time cannot be calculated.
  • The renovation 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.
  • Please consult the Offering Circular for further discussion of general risk factors.
CLOSING CONDITIONS
  • Loan is conditioned upon a clean title search and valid title insurance at the time of close.
DEVELOPER FEES
  • GROUNDFLOOR generally charges borrowers between 2% and 6% of the principal amount of the loan for our services.
  • GROUNDFLOOR does not take a 'spread' on any part of the interest payments.
  • Developers may capitalize the cost of closing into the principal amount of their request. These closing costs typically range from $500 to $1500.
  • Unless otherwise limited by applicable law, GROUNDFLOOR will charge a penalty of 2% for any extension made to the borrower. See GROUNDFLOOR 'Fees and Expenses' in the Offering Circular.
SEC FILING INFORMATION
  • The series of LROs corresponding to this Project are offered pursuant to Post Qualification Amendment No.2 to the Offering Circular dated December 8, 2015 (each, as amended and supplemented from time to time), including the documents incorporated by reference therein. You may access and review these documents on the Internal Filings Directory located on our Platform.
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.