Key Deal Facts
The Borrower was advanced the money it needs to begin construction of this property on June 22, 2022 by Groundfloor Finance Inc. (“Groundfloor,” “we,” “us,” or “our”) or a wholly-owned subsidiary of Groundfloor. The Borrower 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 LRO represents the first draw for the construction project and is secured by an individual note., There will be two LROs on this project, each representing subsequent draws. The LROs will range from $56,800 to $227,300. 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., Please consult the
Offering Circular
for further discussion of general risk factors.
