D

LOAN SUMMARY | 5250 Pamela Drive, Douglasville, GA 30135

BORROWER

SavingSmart LLC
Brittany Taylor - principal
Rate
Projected Term
Loan To ARV
Loan Amount
Investors
13%
12 months
67.8%
$167,540
0
Purpose
Loan Position
Total Loan Amount
Loan Status
Refinance - Cash Out
First Lien
$167,540
Repaid on 02/17/2021
Started on
Funded on
Repaid on
Matured on
10/17/2019
12/23/2019
02/17/2021
10/16/2020

FINANCIAL OVERVIEW

After Repair Value (ARV)
$258,000
Total Project Costs
$257,540
$460
GROUNDFLOOR
$167,540
$90,000
0%
Skin-in-the-Game
First Lien Loan
Cushion
Purchase Price
$258,000
Purchase Date
01/08/2016
Loan To Value
67.8%
Loan To Total Project Cost
65.1%

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
7
10
Location
4
8
Borrower Experience
1
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

5250 PAMELA DRIVE, DOUGLASVILLE, GA 30135
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 October 16, 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 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 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.
  • 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.
  • Please consult the Offering Circular