It was six weeks ago that we posted news of our move to Atlanta and closing $1 million in seed financing. Since then, good things have continued to happen for GROUNDFLOOR. Here a few of the highlights:
- Four loans repaid within their six-month terms, returning $200,000 in principal plus over $10,000 in interest, at a weighted average internal rate of return of over 11%.
- Our community of almost 2,000 Georgia microlenders funded another loan, 1459 Adele by John Mangham, for $50,000 from 39 participants.
- We were selected to present at the Venture Atlanta conference two weeks from now, October 21-22.
- Jesse Dyer joined us director of business development in Atlanta to help more builders offer more loans for funding.
All four of these developments build directly into our plans for expanding before year-end and into 2015. Stay tuned -- it's going to be an exciting time, as GROUNDFLOOR continues to grow up.
Have you been waiting on the sidelines, watching and waiting to participate? Head on over to consider joining in on 1419 Gus Thornhill, our project currently funding with over $42,000 from 48 participants. It offers a 12% rate of interest on a 12-month term. If now's not the time for you, or that's not the project, there will soon be more to choose from, along with new and improved property information, loan data and ways to get started.
It's your feedback that keeps us going in the right direction, so if you see something we can do better, have unresolved questions or just want to say hello, drop us an email at founders@groundfloor.us or comment below and we'll be right back in touch with you.