Viewing entries in
loans

More Loans from More Places

More Loans from More Places

During our limited release you funded 48 loans totaling more than $2 million. On August 31st, we received qualification from the Securities and Exchange Commission (SEC) to expand investment to residents of eight more states. Additionally, we can now service loans for borrowers in any state such as 7415 Raton Street, our first loan outside of Georgia.

The SEC qualification was a catalyst for a record month of investment, selling through almost every loan. So, you’ve asked “How do you source more loans and when will they be available?”

Our Borrower Services Team works with a network of real estate investors, developers, strategic partners, and advisors to meet residential real estate developers looking to raise capital for projects. We are expanding our partnerships coast-to-coast through conferences, trade shows, events, industry networks and groups.  However, the best source has been previous borrowers. We have seen more than two out of three return and submit additional projects.

When we receive an application we review and grade the loan using our proprietary loan grading algorithm and further vet with our Loan Committee. The loan then receives a grade, A through G, with a corresponding interest rate of 5-26% allowing you to choose your own reward.

Current regulation requires that we submit loans to the SEC for review. We do this through a batch process and make the loans available to you for investment upon SEC approval. We notify you via email when new loans are available and you can always visit our site to see what is currently funding.

Still have questions about how we source new loans or meet new borrowers? Post your question in the comments section below or send us an email at support@groundfloor.us.

Product Update: Loan Comparison Tool

Product Update: Loan Comparison Tool

A few weeks ago, we introduced the new Loan Detail Page. Today, we offer another update, the Loan Comparison Tool. Keep scrolling for a walkthrough of how the Loan Comparison Tool helps you see the similarities and differences in multiple loans before making an investment.

Before Making an Investment

When you arrive on the loans page, you'll notice two new icons next to each loan. These icons are part of the new loan comparison tool. The small circle that encloses a letter "i" will direct you to the loan detail page where you can view more information about the loan. The icon directly beneath that one that looks like a table will add the loan to the loan comparison view.

Email_Photo_638x350_LoanComparison1
Email_Photo_638x350_LoanComparison1

Loan Comparison View

Once you've selected multiple loans to compare, you can click the large table icon near the top of the loans page. You will land on the loan comparison view. Once here, you will see all of the loans you've selected to compare.

Email_Photo_638x350_LoanComparison2
Email_Photo_638x350_LoanComparison2
Email_Photo_638x350_LoanComparison3
Email_Photo_638x350_LoanComparison3

Compare and Contrast

When you click the "Show Differences" button at the top left of the screen, the loan categories with differences will appear highlighted in blue making it easy for you to see how the loans differ from one another. You also have the option to remove a loan from your comparison screen by simply clicking "remove" at the top of that loan column.

Email_Photo_638x350_LoanComparison4
Email_Photo_638x350_LoanComparison4

Click through to the investments page and test out the new loan comparison tool. Then tell us what you think via email at support@groundfloor.us. We’re always happy to hear your feedback and answer your questions.

Product Update: New Loan Detail Page

Product Update: 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.

Blog_Photo_638_LoanSummary
Blog_Photo_638_LoanSummary

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.

Blog_Photo_638_LoanFinanceOverview
Blog_Photo_638_LoanFinanceOverview

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.

Blog_Photo_638_LoanBorrowerSummary
Blog_Photo_638_LoanBorrowerSummary

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.

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

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.

GF Infographics StPaddy_Education Is it for Me 03 1120px
GF Infographics StPaddy_Education Is it for Me 03 1120px

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.

Invest_Button_StPats2
Invest_Button_StPats2

Loan #17: 31 Stratford Drive NW

Loan #17: 31 Stratford Drive NW

Today marks day 17 of our #17loans17days blog retrospective. It would have been the most recently funded GROUNDFLOOR loan. But in the days since we started the series, hundreds of you have funded four more (and, very soon, will have funded fifth one!). Funding is accelerating. We’ll have more to say about that in a future post.

But first, to wrap it all up, allow us to introduce borrower Wilford Vales and his project in west Atlanta at 31 Stratford Drive NW. Wilford is a native Atlantan and has more than 15 years experience in real estate investment in the Atlanta market.  His company, WillBuySell is both a rehab-renovation and hard money lending company working all aspects of the in-town market. He came to GROUNDFLOOR with the Stratford project in the fall of last year. Another investor had purchased the property with plans to flip it. That investor lost the property to foreclosure. Wilford and his team acquired it for $15,000 and now plan to rehab and flip it quickly.

The $25,000 loan offered GROUNDFLOOR lenders an annual rate of 13.2% over 12 months. It was used in part to acquire the property and also to support rehab efforts. 60 lenders fully funded this loan in January of this year within one month after it went live. The rehab work, mostly cosmetic, has already begun. Where traditional financing options aren’t available or viable on their own for properties like Stratford; the scope and scale of the Internet bring borrowers like Wilford and microlenders together to restore blighted properties more quickly than they would be otherwise.

When you invest with GROUNDFLOOR, you become a part of our growing community of borrowers and lenders; and can invest in real estate like never before. From the moment you invest, your money starts earning. And when you invest $500 or more before midnight tonight, we’ll add $100 to your investment for a total of $600 as part of our Cheers to 2 Years! promotion.

Invest_Button_InvestLikeNeverBefore
Invest_Button_InvestLikeNeverBefore