We’re often asked, “How’s Groundfloor doing as a company?” Looking back on 2016, we’ve prepared an infographic to answer that and provide some additional commentary that will help put the data into context. There’s never been a better time to be an investor or a borrower with Groundfloor. Having delivered on our promise of more loans in more places in 2016, we have big plans for 2017.
Recently, Groundfloor crossed another important milestone, repaying our 100th loan in January. We passed that milestone realizing no loss of principal in three years of lending. Today, our undefeated record sees its inevitable end.
We’re not the kind of company who sweeps its problems and shortcomings under the rug. When results do not meet our expectations, we make a point of studying why. We share our findings openly with our stakeholders without excuse, and commit ourselves to improving.
Groundfloor operates on core values that include efficiency, openness, transparency, and accountability. We emphasize those values in our lending operations for the benefit of our borrowers, and as an issuer of securities for the benefit of our lenders who invest in our loans. Read on to see what happened on the first loan of nearly 100 we've made that didn't repay the full rate of interest, and how we managed it.