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LOAN SUMMARY | 8035 South Parnell Avenue, Chicago, IL 60620

BORROWER

Albert davis
Florin Clim - principal
Rate
Projected Term
Loan To ARV
Loan Amount
Investors
9.6%
12 months
47.6%
$66,150
0
Purpose
Loan Position
Total Loan Amount
Loan Status
Refinance - Rehab
First Lien
$66,150
Repaid on 11/16/2018
Started on
Funded on
Repaid on
Matured on
06/27/2016
06/16/2016
11/16/2018
06/27/2017

FINANCIAL OVERVIEW

After Repair Value (ARV)
$139,000
Total Project Costs
$71,150
$67,850
GROUNDFLOOR
$66,150
$5,000
0%
Skin-in-the-Game
First Lien Loan
Cushion
Purchase Price
$25,000
Purchase Date
01/13/2016
Loan To ARV
47.6%
Loan To Total Project Cost
93.0%

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

VALUATION REPORTS

As Complete (ARV)
$139,000
Certified Independent Appraisal
Broker's Price Opinion
Borrower Provided Appraisal
Borrower Provided Comps

PROPERTY PHOTOS

MISCELLANEOUS

PROJECT SPECIFIC RISK FACTORS
  • The property was purchased for $25,000, and the Borrower intends to use $20,000 of the the proceeds from our loan to offset that amount of the purchase price of the property. Therefore, the Borrower is only receiving a "Skin-in-the-Game" score for the remaining $5,000 that is tied up in the project after completion of our 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