C

LOAN SUMMARY | 908 Duke Street, Georgetown, SC 29440

BORROWER


Rate
Projected Term
Loan To ARV
Loan Amount
Investors
13.4%
12 months
58.9%
$106,100
0
Purpose
Loan Position
Total Loan Amount
Loan Status
Refinance - Rehab
First Lien
$106,100
Repaid on 05/25/2018
Started on
Funded on
Repaid on
Matured on
01/13/2017
12/16/2016
05/25/2018
01/12/2018

FINANCIAL OVERVIEW

After Repair Value (ARV)
$180,000
Total Project Costs
$111,783
$68,217
GROUNDFLOOR
$106,100
$5,683
0%
Skin-in-the-Game
First Lien Loan
Cushion
Purchase Price
$0
Purchase Date
12/28/2015
Loan To ARV
58.9%
Loan To Total Project Cost
94.9%

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

VALUATION REPORTS

As Complete (ARV)
$180,000
Certified Independent Appraisal
Broker's Price Opinion
Borrower Provided Appraisal
Borrower Provided Comps

PROPERTY DESCRIPTION

908 DUKE STREET, GEORGETOWN, SC 29440
The Borrower intends to use the loan proceeds to complete a renovation to the property. Upon completion, the Borrower plans to refinance the property to repay the Groundfloor loan.

PROPERTY PHOTOS

MISCELLANEOUS

PROJECT SPECIFIC RISK FACTORS
  • 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.
  • The Borrower has not undertaken or completed any projects in the past year. As such, the Borrower's average revenue, costs and margins cannot be calculated.
  • The Borrower is also a general contractor, and the financial information in the Borrower Summary reflects revenue from this line of work.
  • Please consult the Offering Circular