In today’s installment of our #17loans17days blog retrospective, we meet with borrower Dustin Cole again. This time for a project in Dalton, GA.

Did you know…? Dalton is the “Carpet Capital of the World”. More than 150 carpet manufacturers call Dalton home. In fact, more than 90% of the functional carpet in the world today is produced within a 65-mile radius of the city.

Producing nearly all of the world’s carpet is no small feat. And you might be interested to know that it all started with a wedding gift given in the late 1800s by a young woman who lived in Dalton, Catherine Evans Whitener. Her gift, a tufted bedspread, sparked an entire tufting industry which later morphed into the carpet industry. A mechanized carpet making process entered the marketplace after WWII and Dalton’s residents proved the perfect fit with all of their specialized tufting skills; and the “Carpet Capital of the World” was born.

Much like Catherine, we hope our idea for a new kind of finance can play a part in changing our industry forever. Borrowers like Dustin play an important role in that process. For his 4th project with us, he used GROUNDFLOOR to acquire a distressed property, 1949 Sosebee Drive NE, and flip it quickly for cash. Our lenders saw that vision, too; and fully funded the $8,000 loan at 13.5% for 12 months in just 1 day! Everything about this project was quick.

That’s just one way GROUNDFLOOR makes real estate finance and investing different. We offer borrowers an alternative to banks and traditional hard money lenders using a streamlined process that makes borrowing simple, reliable, fast, and efficient. In return, lenders find an increasingly large variety of loans to choose from--from different borrowers, in different places, with different loan letter grades, terms and interest rates.

Our platform opens real estate investing to everyone, not just accredited investors (financially sophisticated investors with high net worth). With just $10, you can become a GROUNDFLOOR lender. When you invest, you earn. And when you invest $500 or more, we’ll add $100 to your investment for a total of $600 as part of our Cheers to 2 Years! promotion until February 22nd.