D

LOAN SUMMARY | 2259 Pemberton Rd SW, Atlanta, GA 30331

BORROWER


Rate
Projected Term
Loan To ARV
Loan Amount
Investors
12%
12 months
69.8%
$226,840
0
Purpose
Loan Position
Total Loan Amount
Loan Status
Purchase & Renovation
First Lien
$226,840
Repaid on 02/17/2022
Started on
Funded on
Repaid on
Matures on
08/04/2021
12/16/2021
02/17/2022
07/28/2022

LOAN UPDATES

GROUNDFLOOR - 2/21/2022

GROUNDFLOOR is pleased to announce that this loan has repaid in full. Please refer to your dashboard for repayment details.

GROUNDFLOOR - 2/2/2022

GROUNDFLOOR has received a payoff request good through February 15, 2022. Please keep in mind closing dates are subject to change.

GROUNDFLOOR - 1/6/2022

The borrower has advised that permitting is in progress.

GROUNDFLOOR - 1/5/2022

The borrower has advised that permitting is in progress.

GROUNDFLOOR - 12/13/2021

GROUNDFLOOR has received a payoff request good through December 31, 2021. Please keep in mind closing dates are subject to change.

GROUNDFLOOR - 11/12/2021

The borrower has advised that permitting is in progress.

GROUNDFLOOR - 10/22/2021

The borrower has advised that permitting is in progress.

GROUNDFLOOR - 9/21/2021

The borrower has advised that permitting is in progress.

FINANCIAL OVERVIEW

After Repair Value (ARV)
$325,000
Total Project Costs
$266,940
$58,060
GROUNDFLOOR
$226,840
$40,100
0%
Skin-in-the-Game
First Lien Loan
Cushion
Purchase Price
$180,000
Purchase Date
07/29/2021
Loan To ARV
69.8%
Loan To Total Project Cost
85.0%

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
2
10
Location
4
8
Borrower Experience
3
5
Borrower Commitment
1
1

VALUATION REPORTS

As Complete (ARV)
$325,000
Certified Independent Appraisal
Broker's Price Opinion
Borrower Provided Appraisal
Borrower Provided Comps

PROPERTY DESCRIPTION

2259 PEMBERTON RD SW, ATLANTA, GA 30331
The Borrower intends to use the loan proceeds to purchase and renovate the property. 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 needed to purchase this property on July 29, 2021 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.
  • Please consult the Offering Circular