Overview

Where does GROUNDFLOOR do business?

GROUNDFLOOR is a financial services corporation based in Atlanta, GA. It was founded in 2013 and offers access to business loans in 24 states (and Washington, DC).

What are GROUNDFLOOR’s rates?

GROUNDFLOOR offers business loans with fixed APRs starting from 5% to 26%.

Does GROUNDFLOOR charge an origination fee?

Yes, GROUNDFLOOR charges a loan origination fee of 2% to 6% of the loan amount. GROUNDFLOOR deducts the fee directly from your loan amount before disbursing loan proceeds, so make sure you take this fee into account when deciding how much you need to borrow.

What limitations does GROUNDFLOOR set on the purpose of the loan?

GROUNDFLOOR considers loan applications for business purposes, such as:

• Working capital

Does GROUNDFLOOR charge prepayment fees?

No, GROUNDFLOOR does not charge prepayment fees. This means you will not have to pay additional fees if you decide to pay the loan off early.

How much can you borrow from GROUNDFLOOR?

What is the maximum loan term you can get with GROUNDFLOOR?

GROUNDFLOOR offers business loans with terms ranging from 6 to 12 months. Having the option of longer terms allows borrowers to take on larger loan amounts while keeping monthly payments more affordable. However, the longer the term of your loan, the more interest you will pay.

What do you need to qualify for a loan with GROUNDFLOOR?

Applicants with a credit score of at least 640 can apply for a loan via GROUNDFLOOR. GROUNDFLOOR does not require borrowers to have been in business for a minimum number of years. Businesses don't have to meet a minimum annual revenue to be considered

Only U.S. citizens and permanent residents can apply for a loan. To qualify, applicants may need to provide the following documentation:

• Proof of Identity
• Proof of Income

Does GROUNDFLOOR report loan payments to credit bureaus?

GROUNDFLOOR may report credit data to the following credit reporting agencies:

• Equifax
• Experian