GROUNDFLOOR Stimulus Program Launches
Atlanta-based wealthtech platform GROUNDFLOOR has launched a new program to ensure that capital for residential real estate development continues to flow during the COVID-19 financial crisis. The new program allows investors to earn an additional 4% interest rate bonus for
90 days on qualifying investments.
“Our community of individual investors is a powerful force that is keeping the value chain of real estate finance moving forward on fair terms for all,” said GROUNDFLOOR co-founder & CEO Brian Dally. “The GROUNDFLOOR stimulus program rewards investors for stepping in to provide real estate entrepreneurs and developers with the funding they need to keep their businesses, and our economy, moving.”
GROUNDFLOOR, which is not a fund or a pool, was founded in 2013 as a result of the Great Recession. The founders’ vision was to open private capital markets to all by making them more broadly decentralized and more resilient during challenging times. It 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. The company has raised $22 million in equity capital from several sources, including venture capital and online public equity offerings. As of its most recent round of financing in 2019, the company is 20% customer-owned.
