For many, Memorial Day weekend marks the beginning of summer, in attitude if not in seasonal fact. As we look ahead to an exciting summer of expansion for GROUNDFLOOR, we thought this would be a good time to update you on results of the season now passing behind us.
When we first introduced GROUNDFLOOR, we were eager to open up a variety of Georgia projects to Georgia investors, and to see what would happen. Since then, we've learned a lot about the types of loans you want to fund, how you want to learn about them, and what you want to know before investing.
Including 809 Custer Ave this week, our groundbreaking group of over 1,000 Georgia investors have now funded five loans worth $250,000. Some facts and figures:
- 145 people have made at least one investment, and one-third of them more than one
- The most common investment was $500, and one-third of all investors started out with less than $500
- On average, people have invested $1,100 per project
- Those who made their first investment in May had been members of GROUNDFLOOR for almost one month on average before investing
This summer, GROUNDFLOOR begins to expand beyond Georgia to five more states reaching more than 43 million investors. Of course, we'll continue with our offerings in Georgia. But we'll also be able to offer a greater variety of loans in more places, to more people. Once again, we're eager to see what will happen.
Based on the early results from our first round of funded loans, we're encouraged and more emboldened than ever to create an investment that is truly accessible (and actually accessed) by all. While we're sure to see growth in nearly every metric listed above, we'll never forget where we started. We'll always leave room for new investors who are just starting to experiment with building wealth with us in this new way, one loan at a time.
Regardless whether you've already invested with us or have been waiting on the sidelines, we're glad you're here. Please let us know what information and assistance we can provide to help you get and stay involved as we grow. We'll respond to comments below, and you can always reach us at founders@groundfloor.us.