C

LOAN SUMMARY | 3780 Glendale Milford Road, Cincinnati, OH 45241

BORROWER

The Kardan Group, LTD
Loie Hallug - principal
Rate
Projected Term
Loan To ARV
Loan Amount
Investors
11%
12 months
60.9%
$137,050
0
Purpose
Loan Position
Total Loan Amount
Loan Status
Purchase & Renovation
First Lien
$137,050
Repaid on 05/26/2020
Started on
Funded on
Repaid on
Matured on
05/17/2019
06/25/2019
05/26/2020
05/16/2020

FINANCIAL OVERVIEW

After Repair Value (ARV)
$225,000
Total Project Costs
$171,550
$53,450
GROUNDFLOOR
$137,050
$34,500
0%
Skin-in-the-Game
First Lien Loan
Cushion
Purchase Price
$151,886
Purchase Date
05/17/2019
Loan To ARV
60.9%
Loan To Total Project Cost
79.9%

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
4
4
Skin-in-the-Game
3
10
Location
4
8
Borrower Experience
1
5
Borrower Commitment
1
1

VALUATION REPORTS

As Complete (ARV)
$225,000
Certified Independent Appraisal
Broker's Price Opinion
Borrower Provided Appraisal
Borrower Provided Comps

PROPERTY DESCRIPTION

3780 GLENDALE MILFORD ROAD, CINCINNATI, OH 45241
The Borrower intends to use the loan proceeds to purchase and renovate the property. Upon completion, the Borrower plans to refinance the property to repay the Groundfloor loan.

PROPERTY PHOTOS

MISCELLANEOUS

PROJECT SPECIFIC RISK FACTORS
  • The Borrower was advanced the money it needed to purchase this property on May 17, 2019 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 Borrower is a new entity and does not have any assets or operating history.
  • 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