B

LOAN SUMMARY | 1778 Vicki Ln SE, Atlanta, GA 30316

BORROWER

GCA Holdings, LLC
Gabriel Akhabue - principal
Rate
Projected Term
Loan To ARV
Loan Amount
Investors
9%
15 months
72.8%
$152,900
0
Purpose
Loan Position
Total Loan Amount
Loan Status
Refinance - Cash Out
First Lien
$152,900
Repaid on 09/29/2023
Started on
Funded on
Repaid on
Matured on
04/06/2023
09/29/2023
09/29/2023
07/05/2024

FINANCIAL OVERVIEW

After Repair Value (ARV)
$480,000
Total Project Costs
$431,800
$48,200
GROUNDFLOOR
$305,800
$126,000
0%
Skin-in-the-Game
First Lien Loan
Cushion
Purchase Price
$420,000
Purchase Date
03/16/2022
Loan To Value
72.8%
Loan To Total Project Cost
70.8%

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

VALUATION REPORTS

As Complete (ARV)
$480,000
Certified Independent Appraisal
Broker's Price Opinion
Borrower Provided Appraisal
Borrower Provided Comps

PROPERTY DESCRIPTION

1778 VICKI LN SE, ATLANTA, GA 30316
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 April 6, 2023 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 LRO represents the second draw for the loan and is secured by an individual note.
  • There will be two LROs on this project, each representing subsequent draws. The second series of LROs will be for $152,900. The Financial Overview box represents the aggregate amount of all LROs to be secured by this property, giving a complete financial picture of the project.
  • 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.
  • Please consult the Offering Circular