B

LOAN SUMMARY | 604 Soles St, Mckeesport, PA 15132

BORROWER


Rate
Projected Term
Loan To ARV
Loan Amount
Investors
8.3%
12 months
67.0%
$110,470
623
Purpose
Loan Position
Total Loan Amount
Loan Status
Refinance - Cash Out
First Lien
$110,470
Funded
Started on
Funded on
Repaid on
Matured on
11/15/2019
03/03/2020
Pending
11/20/2020

FINANCIAL OVERVIEW

After Repair Value (ARV)
$170,000
Total Project Costs
$169,970
$30
GROUNDFLOOR
$110,470
$59,500
0%
Skin-in-the-Game
First Lien Loan
Cushion
Purchase Price
$170,000
Purchase Date
09/08/2019
Loan To Value
67.0%
Loan To Total Project Cost
65.0%

Grade Factors

The following factors determine in part how the loan was graded:
(in descending order of importance)
Loan To ARV Score
10
10
Quality of Valuation Report
4
4
Skin-in-the-Game
6
10
Location
4
8
Borrower Experience
3
5
Borrower Commitment
1
1

VALUATION REPORTS

As Complete (ARV)
$170,000
Certified Independent Appraisal
Broker's Price Opinion
Borrower Provided Appraisal
Borrower Provided Comps

PROPERTY DESCRIPTION

604 SOLES ST, MCKEESPORT, PA 15132
The property is being used as collateral for a loan. No substantial work is being done on the property, and the majority of the collateral is represented by the Borrower's skin-in-the-game.

PROPERTY PHOTOS

MISCELLANEOUS

PROJECT SPECIFIC RISK FACTORS
  • The Borrower was advanced the money it needs to refinance this loan on November 20, 2019 by Groundfloor Finance Inc. ("Groundfloor," "we," "us," or "our") or a wholly-owned subsidiary of Groundfloor. The Borrower has now been refinanced for this property. If this offering is fully subscribed, Groundfloor will continue to administer and service the loan as further described in the Offering Circular.
  • The property is being used as collateral for a loan. No substantial work is being done on the property, and the majority of the collateral is represented by the Borrower's skin-in-the-game. As a result, there will be little to no "cushion" and the Borrower will repay the Groundfloor loan by selling the property or refinancing it.
  • This loan is secured by five properties, 606 Soles Street, 608 Soles Street, 609 Hospital Way, 2707 Grover Ave, and 126 State Street. The ARV represents the combined value of all properties.
  • Please consult the Offering Circular