B

LOAN SUMMARY | 314 Fortune Street Northeast, Unit B, Atlanta, GA 30312

BORROWER

Ashantey and Associates, LLC
Christopher Ashantey - principal
Rate
Projected Term
Loan To ARV
Loan Amount
Investors
8%
12 months
60.1%
$432,470
0
Purpose
Loan Position
Total Loan Amount
Loan Status
New Construction
First Lien
$432,470
Repaid on 06/29/2023
Started on
Funded on
Repaid on
Matured on
12/11/2020
02/25/2021
06/29/2023
12/10/2021

FINANCIAL OVERVIEW

After Repair Value (ARV)
$720,000
Total Project Costs
$556,970
$163,030
GROUNDFLOOR
$432,470
$124,500
0%
Skin-in-the-Game
First Lien Loan
Cushion
Purchase Price
$175,000
Purchase Date
12/17/2015
Loan To ARV
60.1%
Loan To Total Project Cost
77.6%

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

VALUATION REPORTS

As Complete (ARV)
$720,000
Certified Independent Appraisal
Broker's Price Opinion
Borrower Provided Appraisal
Borrower Provided Comps

PROPERTY PHOTOS

MISCELLANEOUS

PROJECT SPECIFIC RISK FACTORS
  • The Borrower was advanced the money it needs to begin construction of this property on December 11, 2020 by Groundfloor Finance Inc. (“Groundfloor,” “we,” “us,” or “our”) or a wholly-owned subsidiary of Groundfloor. The Borrower will has begun construction 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 construction of the property may be extensive, and therefore subject to delays and other unexpected issues.
  • The construction will require permitting, and permits may not be obtained on time or may be denied.
  • There is no existing structure on this property, or if there is, it will be demolished, and a new structure built in its place.
  • This is a collateral loan secured by two properties, 314 Fortune Street Northeast, Unit A, Atlanta, GA, 30312 and 314 Fortune Street Northeast, Unit B, Atlanta, GA, 30312. The ARV represents the combined value of all properties.
  • The event of default on one Groundfloor note secured by this property will trigger default on all Groundfloor notes secured by this property. All LRO holders investing in LROs corresponding to notes secured by this property share the same priority in any recovery and recovered proceeds will be distributed on a pro-rata basis.
  • The Borrower has not completed or sold any projects in the past year. As such, the Borrower's average revenue, costs, and margins cannot be calculated.
  • The Principal has not yet completed or sold any projects. As such, the Principal's average revenue, costs, and margins cannot be calculated.
  • Please consult the Offering Circular