C

LOAN SUMMARY | 2056 Clark Street, Augusta, GA 30904

BORROWER


Rate
Projected Term
Loan To ARV
Loan Amount
Investors
11%
12 months
69.7%
$179,790
0
Purpose
Loan Position
Total Loan Amount
Loan Status
New Construction
First Lien
$179,790
Repaid on 01/29/2021
Started on
Funded on
Repaid on
Matured on
11/26/2019
07/06/2020
01/29/2021
02/03/2021

FINANCIAL OVERVIEW

After Repair Value (ARV)
$258,000
Total Project Costs
$220,790
$37,210
GROUNDFLOOR
$179,790
$41,000
0%
Skin-in-the-Game
First Lien Loan
Cushion
Purchase Price
$6,000
Purchase Date
05/03/2019
Loan To ARV
69.7%
Loan To Total Project Cost
80.7%

Grade Factors

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

VALUATION REPORTS

As Complete (ARV)
$258,000
Certified Independent Appraisal
Broker's Price Opinion
Borrower Provided Appraisal
Borrower Provided Comps

PROPERTY DESCRIPTION

2056 CLARK STREET, AUGUSTA, GA 30904
The Borrower intends to use the loan proceeds to complete a new construction. Upon completion, the Borrower intends to sell the property to repay the Groundfloor loan.

PROPERTY PHOTOS

MISCELLANEOUS

PROJECT SPECIFIC RISK FACTORS
  • The Borrower was advanced the money it needs to begin construction of this property on February 4, 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.
  • Please consult the Offering Circular