Product Update: New Loan Detail Page

See more of the new loan detail page.

The last few weeks have been pretty exciting at GROUNDFLOOR. We’ve welcomed two new interns and seen record-breaking investment activity. There’s more… We recently released an updated version of our loan detail  page offering you more insight into each loan live on our site. Keep scrolling for a walkthrough of the new loan detail page.

Loan Summary

The loan summary section has been reorganized to display relevant information at the very top of the screen. You will see the property address, a link to the borrower profile, loan details like grade, rate, term, and more, and a button to invest in just one click.

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Financial Overview, Grade Factors, Valuation Sources

These three boxes are a completely new addition to the loan detail page and offer you insight into how we determine a loan grade and rate. In the financial overview box you will see a visual representation of the borrower’s capital stack including the GROUNDFLOOR loan, other loans, and project costs. The grade factors box displays the factors we use in our loan grading algorithm and how the particular project scores in each category. The valuation sources box offers borrower-provided information like comps and appraisals as well an estimate from Zillow.

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Borrower Summary

This new section summarizes information about the borrower for a particular project making it simple for you to learn more without leaving the loan detail page. You will see information specific to the borrower and the borrower’s company including projects with and outside of  GROUNDFLOOR.

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Click through to the investments page and see the new loan detail page for any of our existing loans. Then tell us what you think via email at support@groundfloor.us. We’re always happy to hear your feedback and answer your questions.


Meet us in Nashville at 36|86

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This week, our team will be in Nashville for 36|86, an event that brings together southern thinkers, founders, and investors. We would love to meet you if you’re in Music City, too.

We’re headed to Tennessee to participate in the pitch competition and meet and greet with other great companies from around the South. Our Co-Founder and CEO, Brian Dally, will deliver a 90-second pitch; and our team will be around during Village 36 with Georgia-grown goodies.

The 2-day event begins on Tuesday morning, June 9 and continues through Wednesday afternoon, June 10. You can see Brian participate in Round 3 of the pitches on Tuesday, June 9 between 2:45 and 2:55pm CST at Marathon Music Works.

True southerners, we always like to make new friends. If you’re in Nashville and would like to meet us, please reach out via email at press@groundfloor.us. See y’all there!


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Name That Cocktail

GROUNDFLOOR Specialty Cocktail

A few weeks ago, we gathered with some of you to celebrate some company milestones. We were honored to have Georgia Secretary of State Brian Kemp with us as we toasted the Invest Georgia Exemption, a piece of legislation he championed.

We were also celebrating the warm welcome Atlanta has shown us and surpassing the the $1 million mark in lending from our growing community of microlenders like you.

All of the celebration, we think, calls for a special cocktail. Much like we’re changing the finance landscape, we shook up the bar that night, too. We scoured the Internet and consulted our friends in hospitality to come up with our very own GROUNDFLOOR cocktail. The cocktail was inspired by Dr. Mozley’s Lemon Elixir which you can read more about in a previous blog post.

Now, we need a name for it. And, we need your help naming it. Head over to our Facebook page where you will find an album of photos with potential cocktail names. Browse the photos and click like to cast your vote. We will tally the results and announce a winner by popular vote in the coming weeks in a blog post.

Cheers friends!


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Celebrating IGE with Secretary of State Brian Kemp

Secretary of State Brian Kemp with Co-Founders Brian Dally and Nick Bhargava

As previously covered in this blog, GROUNDFLOOR has come a long way since moving to Georgia. Our community of lenders has more than tripled in size. We’ve watched that community fund 26 loans to date totaling $1,300,000 – and that number continues to grow. We’ve added new members to our team, welcomed a dozen new borrowers and made many new friends along the way.

This week, we threw a party to celebrate those milestones and were honored to have Secretary of State Brian Kemp join us (photo).

We moved our company to Georgia last fall in large part because of the Invest Georgia Exemption (IGE) championed by Secretary Kemp. During his remarks at the party, he highlighted GROUNDFLOOR as an example of how IGE helps make Georgia a great place to do business, particularly for small businesses and startups. Georgia was one of the first two states to introduce legislation such as IGE–and now over 20 more have followed suit.

Thank you Secretary Kemp and thank you Georgia for leading the way in crowdfinance, and for the warm welcome and continued support.


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Share the Wealth: A brief history.

Former US Senator Huey Long delivers his Share Our Wealth national radio address.

Recently, we’ve encouraged you to “share the wealth” and help grow the GROUNDFLOOR community. Today, we’re offering some insight into where that phrase originated.

Do you remember Huey Long from history class? He is one of the most notable governors of the state of Louisiana. Fiercely devoted to economic parity, he radically changed the tax systems in the state and put the increased revenue to work building bridges and roads, modernizing utilities, tripling the size of Louisiana State University, and more.

Wildly popular, he was elected as Governor in 1928. Not long after in 1930, he was elected to the United States Senate and took Washington by storm with his “Share Our Wealth” movement, also known as “Share the Wealth”. The movement gained momentum after a national radio address by Long in 1934; and even put Long in a great position to run for president in the upcoming 1936 election.

Long was so committed to his “Share the Wealth” movement, that he commissioned Ina Ray Hutton and her all-girl orchestra, The Melodears, to record a song to use while campaigning. The song, “Every Man a King” refers to Long’s campaign slogan alluding to the “Share the Wealth” movement providing income for every man.

In the same spirit, make every man a king and #sharethewealth – the GROUNDFLOOR wealth, that is. Invite your friends to earn an average 12% return by investing through GROUNDFLOOR.

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The Necessary Evil: Income Tax

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It’s tax time. We hope your pockets are being lined with refunds (and that you have plans to invest that refund with us). We did some digging to learn why April 15 is Tax Day. Here’s what we found, including a history of income tax.

On Independence Day in 1861, President Abraham Lincoln called Congress into a special session to explore the legislative options for war. The country was at odds and the South was on the verge of secession. One of the biggest problems Congress faced was the financial implications of a war. In order to raise enough revenue to support the Union troops and a war, Congress levied a three-part tax and tariff plan.

That plan, the Revenue Act of 1861 was drafted by the Chairman of the Senate Finance Committee at the time, Senator William Fessenden of Maine, who would later became the 26th Secretary of the Treasury. The act was drafted, passed the Senate and the House, and signed into law by President Lincoln, but not without some fanfare. Representative Thaddeus Stevens, Chairman of the House Committee of Ways and Means noted that the bill was “a most unpleasant one” and that the taxes and tariffs levied were “necessary evils”.

Necessary evil, indeed. Only a year later, the Act was repealed only to be replaced by the broader Revenue Act of 1862. The new broader act called for the creation of the Office of the Commissioner of Internal Revenue, imposed the first progressive income tax on Americans,  and also expressly set forth an end date to income tax of 1866.

The government was still strapped for cash with the ongoing Civil War; and as a result Congress passed the Revenue Act of 1864 which increased the progressive tax rates. The Act ultimately expired in 1873. Two decades later, Congress again reformed tax law and passed the Wilson-Gorman Tariff Act of 1894. This act was challenged and found unconstitutional in the Supreme Court case Pollock v. Farmers’ Loan and Trust Company.

Flash forward almost another two decades to when the 16th Amendment was ratified giving Congress the legal authority to tax all incomes. The amendment was adopted February 3, 1913 and Congress chose March 1 as the filing deadline. Tax Day was moved to March 15 with the Revenue Act of 1918. And in 1955, Tax Day was moved to its current date, April 15.

We like to think of April 15 at GROUNDFLOOR as Investment Day rather than Tax Day. So, join the community of 3,200 and growing and celebrate Investment Day with us by funding a loan today.

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Meet Us in Times Square for LendIt 2015

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LendIt, the largest conference dedicated to the online lending community, is next week. We’ll be in New York to give a demo of our product and our CEO, Brian Dally, will be moderating a panel. We’d love to see you while we’re there.

LendIt promises to bring together more than 1,500 platforms, investors, bankers, and service providers from all around the world. This year, the conference is debuting the Real Estate and FinTech track. We are excited to be a part of this new track in its inaugural year.

The 3-day event takes place Monday, April 13 through Wednesday, April 15 in New York. We will demo our product on Wednesday, April 15 from 4:23-4:33PM EST at the Marriott Marquis in the Company Demo Room located on the 7th floor.

Following, our CEO Brian Dally will moderate a panel from 4:45-5:15PM EST in the Astor Ballroom located on the 6th floor. The panel, Real Estate Crowdfunding Property Types, will include panelists Haider Nazar from LendZoan, Allen Shayanfekr from Sharestates, Eric Siragusa from MHP Funds, and Bill Sipple from HVS. Brian and the panelist will highlight the broad diversity of the real estate crowdfunding market.

We’d love to see you while we’re in New York. To meet with Brian while he’s in New York, reach out via press@groundfloor.us.


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Yesterday’s SEC Reg A+ Ruling

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Yesterday was an important day for GROUNDFLOOR, for our growing community of microlenders and for the long-awaited eventuality when the full force of the Internet will be felt in finance.

In a public meeting in Washington, D.C., three years after passage by Congress of the 2012 JOBS Act, the Securities and Exchange Commission approved a much-needed amendment to a little-known and little-utilized corner of securities law known as Regulation A. Because Regulation A offerings are open to all, not just “accredited investors,” the amendment gives hope to many that the promise of broad-based “equity crowdfunding” can now start to be fulfilled. In the minds of many, this is a good thing for savers, investors, builders, entrepreneurs and the economy.

As has been reported publicly, for almost a year we have been patiently working our way through the regulatory process to offer securities under Regulation A. All of us who are a part of GROUNDFLOOR, the first and only community of its kind that is 100% open to all, therefore enjoy a huge head start. In fact, our efforts have already yielded state-level approval in Georgia and eight other jurisdictions. We expect to receive federal approval by the SEC soon. That approval will enable us to begin expanding nationwide.

We have long anticipated this action by the SEC. It raises the limit on securities we will be allowed to sell under Regulation A by twenty times compared to what we have been allowed to sell in Georgia during our pilot program here. We had expected to benefit from an expansion of the limit–but not this much!

Even while we cheer what this development does, it is also important to take note of what it does not do. Specifically, yesterday’s action does not “de-regulate” the marketing and sale of financial securities. Far from it. Gaining the requisite regulatory approval to use Regulation A still demands a deservedly lengthy and exhaustive process of disclosure, scrutiny and compliance review. We had to register our offering with the federal government, as will those who may eventually follow us. That requirement means issuers like GROUNDFLOOR must sweat the details to comply with highly specified rules and to weather intense scrutiny by auditors, legal advisors, and regulators.

Despite knowing the costs, the time and the uncertainty that would be imposed on us, we embraced the process because we believe in transparency and disclosure. We believe you and all investors deserve that, and more. You deserve a world of financial opportunity that is as broad and accessible as you are informed and discerning. The very architecture of the Web enables and even demands it.

Yesterday, the SEC outlined a pathway that heads in the right direction of history and progress. As a community, it is now upon us to take it. Are you ready? Join us, tell us what you think at founders@groundfloor.us or feel free to continue the discussion in the comments below.


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Find Your Pot o’Gold at the End of Our Rainbow

We haven’t downed enough pints to perfect our Irish accents, though we did stumble upon a list of the Top 50 Irish Sayings and Proverbs. Here’s one of our favorites:

May you always have a clean shirt, a clear conscience, and enough coins in your pocket to buy a pint!

We’re delighted that the Irish think the same way we do – about coins in your pocket, at least. And when you invest with GROUNDFLOOR, those coins add up quickly. It’s simple to find your pot of gold with us. Create an account. Study our loans. Say an Irish blessing. Choose a loan and invest. Watch your pot of gold grow.

Want to know if GROUNDFLOOR is for you? We’ve added some Irish cheer to our “Is this for me?” infographic.

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Still need more information? Follow our How It Works map and see how your money can work for you. If you’re convinced, grab a pint, find a four-leaf clover, and invest in a loan today.

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Our Appearance on AM Biz 1190 with Dana Barrett

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In case you missed it, on Thursday this week our co-founder and CEO Brian Dally appeared as a guest on Dana Barrett’s popular Atlanta morning radio show on AM Biz 1190. Dana interviewed Brian for 11 minutes. Listen to the segment here:

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Behavioral economist Don Barden was also on the show, and the conversation about GROUNDFLOOR continued throughout portions of the hour. Dana and Don both expressed their enthusiasm and support, and asked some great questions along the way too. Interested in hearing some of our backstory and where the dialogue went? Listen to the full 1-hour show.


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