Groundfloor expands to California and unveils new loan limits

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Apr 20, 2022, 09:00 ET

With the addition of the Golden State, Groundfloor now offers its award-winning real estate investment loans in 32 states and the District of Columbia

ATLANTA, April 20, 2022 /PRNewswire/ -- Groundfloor, the wealthtech platform that allows everyone to build wealth through real estate, is announcing its expansion into the entire state of California. Beginning now, real estate investors in the Golden State may apply for Groundfloor's competitive loans to finance acquisition, value-added renovation, new construction, or the construction of accessory dwelling units (ADUs). Additionally, the wealthtech platform is increasing individual loan limits in California to $1.5 million. With the addition of California, Groundfloor now offers its award-winning lending products in 32 states and the District of Columbia.

"California is the nation's largest real estate investment lending market and we're excited to enter it," said co-founder and CEO Brian Dally. "This expansion and our new loan limit are direct benefits of the continuing growth we're seeing in the scale of our retail investor base, investment activity per investor, and average assets under management."

Groundfloor's product offerings are designed for real estate investors and entrepreneurs who want more flexible capital to scale their business. Groundfloor's unique deferred payment program eliminates traditional monthly payment obligations, giving borrowers the most cash in hand to utilize while the project is underway.

This expansion news comes on the heels of Groundfloor's announcement of $118M in new capital for the platform, and its Q1 launch of a joint venture in Jacksonville with a $50 million pledge in support of Jacksonville's residential housing boom. In 2022-2023, the wealthtech company plans to continue expanding its lending services into new local markets, roll out additional mobile apps, and continue to create new types of private investment and lending opportunities for non-accredited and accredited investors alike.

For more information about Groundfloor's lending products or to start an application, visit borrowers.groundfloor.com.

About Groundfloor
Founded in 2013, Groundfloor is an award-winning wealthtech platform that allows everyone to build wealth through real estate. Groundfloor was the first company qualified by the U.S. Securities & Exchange Commission to offer direct real estate debt investments via Regulation A for non-accredited and accredited investors alike. Today, it remains the only product offering everyone the ability to build fully customizable real estate debt portfolios for short-term, high-yield returns. Headquartered in Atlanta, Groundfloor has won numerous awards for its rapid growth and innovation including the Inc. 5000 and Deloitte's Technology Fast 500. To date, Groundfloor has raised $41.8 million in funding from a variety of sources, including venture capital and online public equity offerings. As of its most recent round of financing, the company is over 30% customer-owned.

Media Contact:
Austin Bryan
Groundfloor
[email protected]

SOURCE Groundfloor Finance Inc.