The GROUNDFLOOR Stimulus Program Terms & Conditions
Terms updated May 28, 2020
This Limited Time Offer is applicable to GROUNDFLOOR investors who meet all of the following requirements: (a) make commitments to participate in Qualifying Investments retroactively to February 26th and continuing through at least June 30th and (b) complete Qualifying Investments in closed, fully funded GROUNDFLOOR LROs during the Promotional Period. GROUNDFLOOR Limited Recourse Obligations (LROs) specifically designated by GROUNDFLOOR as eligible for the Limited Time Offer and carrying the “+4%” indicator shall be the only Qualifying Investments.
The Promotional Period shall begin on April 10, 2020 at 12:01AM Eastern Time and end on the later of (i) June 30, 2020 at 11:59PM Pacific Time, or (ii) 48 hours after the full funding of the last remaining Qualifying Investment, unless extended at the sole option of GROUNDFLOOR.
Any investment cancellations during the Promotional Period shall be netted against otherwise qualifying investments in calculating eligibility. Any tabulation, report, or indication of Qualifying Amounts and bonuses earned under this promotion that is provided to you via our website, automated email, management personnel, or customer service representatives are not conclusive and are subject to revision or correction at any time in the exclusive discretion of GROUNDFLOOR.
The annual interest rate for eligible Qualifying Investments will be increased by 4% for a period of 90 days (the “Bonus Interest”). For Qualifying Investments that repay in fewer than 90 days, the interest rate will be increased by 4% for the full amount of time interest was earned on the investment. The Bonus Interest will be combined with regular interest and paid to a taxable GROUNDFLOOR Investor account upon repayment of the Qualifying Investments. For Qualifying Investments that realize a loss, if any, GROUNDFLOOR shall add 1% of the original loan amount to the aggregate amount that would otherwise have been repaid and allocated to all investors in the loan on a pro rata basis.
Participation in this program may result in the receipt of taxable income, and we may be required to send users, and file with the IRS, a Form 1099-INT. Users are responsible for any tax liability, including disclosure requirements, related to participating in the promotion. Please consult a tax advisor if you have any questions about your personal tax situation.
This Limited Time Offer is subject to change and may be cancelled at any time without notice. In cases where we have a reasonable belief of fraud, we reserve the right to rescind any bonus interest that may have been given, at any time.
This Limited Time Offer cannot be combined with any other GROUNDFLOOR promotion unless specifically indicated by the terms of the additional promotion.