SEC Comment Letter 0000000000-24-002202 to Groundfloor Loans 1, LLC (CIK 0002002281)
Groundfloor Loans 1, LLC (CIK 0002002281)
Date: Feb. 27, 2024 · CIK: 0002002281 · Accession: 0000000000-24-002202
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Letter
United States securities and exchange commission logo February 27, 2024 Nick Bhargava Chief Executive Officer Groundfloor Loans 1, LLC 600 Peachtree Street Atlanta, GA 30308 Re:Groundfloor Loans 1, LLC Draft Offering Statement on Form 1-A Submitted January 31, 2024 CIK 0002002281 Dear Nick Bhargava: We have reviewed your draft offering statement and have the following comment. Please respond to this letter by providing the requested information and either submitting an amended draft offering statement or publicly filing your offering statement on EDGAR. Please refer to Rule 252(d) regarding the public filing requirements for non-public submissions, amendments and correspondence. If you do not believe a comment applies to your facts and circumstances or do not believe an amendment is appropriate, please tell us why in your response. After reviewing your amended draft offering statement or filed offering statement and the information you provide in response to this letter, we may have additional comments. Draft Offering Statement on Form 1-A Risk Factors By Purchasing Shares in this Offering..., page 26 1.Please reconcile your disclosure in this risk factor that arbitration must be conducted in the State of Georgia with the terms of the subscription agreement including section 13 which refer to the State of Virginia in the Washington, D.C. metropolitan area.
FirstName LastNameNick Bhargava Comapany NameGroundfloor Loans 1, LLC February 27, 2024 Page 2 FirstName LastName Nick Bhargava Groundfloor Loans 1, LLC February 27, 2024 Page 2 Please contact Ruairi Regan at 202-551-3269 or Pam Long at 202-551-3765 with any other questions. Sincerely, Division of Corporation Finance Office of Real Estate & Construction
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United States securities and exchange commission logo
February 27, 2024
Nick Bhargava
Chief Executive Officer
Groundfloor Loans 1, LLC
600 Peachtree Street
Atlanta, GA 30308
Re:Groundfloor Loans 1, LLC
Draft Offering Statement on Form 1-A
Submitted January 31, 2024
CIK 0002002281
Dear Nick Bhargava:
We have reviewed your draft offering statement and have the following comment.
Please respond to this letter by providing the requested information and either submitting
an amended draft offering statement or publicly filing your offering statement on EDGAR.
Please refer to Rule 252(d) regarding the public filing requirements for non-public submissions,
amendments and correspondence. If you do not believe a comment applies to your facts and
circumstances or do not believe an amendment is appropriate, please tell us why in your
response. After reviewing your amended draft offering statement or filed offering statement and
the information you provide in response to this letter, we may have additional comments.
Draft Offering Statement on Form 1-A
Risk Factors
By Purchasing Shares in this Offering..., page 26
1.Please reconcile your disclosure in this risk factor that arbitration must be conducted in
the State of Georgia with the terms of the subscription agreement including section
13 which refer to the State of Virginia in the Washington, D.C. metropolitan area.
FirstName LastNameNick Bhargava
Comapany NameGroundfloor Loans 1, LLC
February 27, 2024 Page 2
FirstName LastName
Nick Bhargava
Groundfloor Loans 1, LLC
February 27, 2024
Page 2
Please contact Ruairi Regan at 202-551-3269 or Pam Long at 202-551-3765 with any
other questions.
Sincerely,
Division of Corporation Finance
Office of Real Estate & Construction