B

LOAN SUMMARY | 4205 Solomon Drive, Knoxville, TN 37938

BORROWER

Lewis Holdings, Inc.
James Lewis - principal
Rate
Projected Term
Loan To ARV
Loan Amount
Investors
8.5%
12 months
57.9%
$81,000
0
Purpose
Loan Position
Total Loan Amount
Loan Status
Purchase & Renovation
First Lien
$81,000
Repaid on 05/02/2017
Started on
Funded on
Repaid on
Matured on
12/21/2016
01/13/2017
05/02/2017
12/20/2017

FINANCIAL OVERVIEW

After Repair Value (ARV)
$140,000
Total Project Costs
$90,107
$49,893
GROUNDFLOOR
$81,000
$9,107
0%
Skin-in-the-Game
First Lien Loan
Cushion
Purchase Price
$80,107
Purchase Date
12/21/2016
Loan To ARV
57.9%
Loan To Total Project Cost
89.9%

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
5
5
Borrower Commitment
1
1

VALUATION REPORTS

As Complete (ARV)
$140,000
Certified Independent Appraisal
Broker's Price Opinion
Borrower Provided Appraisal
Borrower Provided Comps

PROPERTY DESCRIPTION

4205 SOLOMON DRIVE, KNOXVILLE, TN 37938
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
  • We advanced the Borrower the money it needed to purchase this property on December 21, 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.
  • Although the Borrower has negotiated to purchase the property for the stated purchase price, there can be no assurances the Borrower will close on the acquisition at this price. However, the Borrower's Skin-in-the-Game will not change regardless of any changes to the closing price.
  • 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