Side-by-side comparison of construction, DSCR, and fix-and-flip loan parameters pulled directly from each lender's own website. No third-party reviews, no guessed numbers, no sponsored placements.
Ledger Trade & Capital is a direct private lender for licensed builders and experienced real estate developers. We finance ground-up construction, DSCR rental, and fix-and-flip loans up to $5M, in 40 states plus Washington, D.C. We are not a broker and we are not a marketplace. Every loan on our book is underwritten, closed, and serviced by our team.
Our capital is institutional. The rate and leverage we quote on Monday is the same rate and leverage available on Friday, because it isn't tied to retail investor demand for any individual note. That's not trivial for a builder planning a 12-month draw schedule.
This page compares the parameters each of us publishes on our own website as of April 17, 2026. Fields a lender does not publish are marked “not published” rather than estimated. If a rate is advertised with a qualifier (“as low as,” “starting at”), we quote the qualifier.
Groundfloor is a publicly-registered real-estate lender based in Atlanta. They're best known as the pioneer of SEC-qualified retail real estate crowdfunding: individual investors buy fractional interests in Groundfloor's short-term real estate notes, and that retail capital is what funds the loans. Their posted products are new construction, fix-and-flip, DSCR, and bridge, with a shared loan size range of $75K–$2.5M+.
Where this comparison gets interesting is in capital source and published guidelines. Groundfloor advertises “no hard credit pulls” and “no tax returns or bank statements required,” which is a legitimate borrower advantage. They also don't publish a state list, don't publish ground-up LTC/LTV/rate/term, and cap their stated loan size well below our $5M ceiling.
What each lender lists as a posted product on their site.
| Product | Ledger | Groundfloor |
|---|---|---|
| Ground-up construction | ✓ | ✓ |
| DSCR / rental | ✓ | ✓ |
| Fix & flip | ✓ | ✓ |
| Bridge | ✓ | ✓ |
Ledger's construction product (ledgertc.com/vertical-construction-loans) vs. Groundfloor's New Construction product (lending.groundfloor.com/new-construction).
| Parameter | Ledger | Groundfloor |
|---|---|---|
| Loan size range | Up to $5M | $75K – $2.5M+ |
| Max LTC (total project) | 90% | 15% down payment (~85% LTC implied) |
| Max LTARV | 75% | Not published |
| Min FICO | 680 | Not published on construction page |
| Min property value | Per guidelines | $50,000 |
| Term | 12–18 months | Not published |
| Published starting rate | From 8.875% | Not published on construction page |
| Prior experience required | None required (first-time builder program) | None required; 5-year lookback; experienced borrowers may get higher leverage or better terms |
| Credit check & income docs | Standard underwriting | “No hard credit pulls”; “no tax returns or bank statements required” |
| First-time builder | Dedicated program | No prior experience required |
| States | 40 + DC | Not published on site |
Ledger's DSCR product (ledgertc.com/dscr) vs. Groundfloor's DSCR product (lending.groundfloor.com/dscr).
| Parameter | Ledger | Groundfloor |
|---|---|---|
| Max LTV (purchase) | 75% | Up to 80% |
| Loan size ceiling | Up to $5M | $75K – $2.5M+ (shared across products) |
| Min FICO | 680 | 660+ |
| Min DSCR | Varies by program | 1.1 |
| Term structures | 30-year fixed, ARMs, interest-only options | 30-year fixed |
| Published starting rate | From 6.25% | Not published |
| Min property value | Per guidelines | $50,000 |
| Credit check & income docs | Standard underwriting | “No hard credit pulls”; “no tax returns or bank statements required” |
| States | 40 + DC | Not published on site |
Ledger's fix-and-flip product (ledgertc.com/fix-and-flip) vs. Groundfloor's Fix-and-Flip product (lending.groundfloor.com/fix-and-flip).
| Parameter | Ledger | Groundfloor |
|---|---|---|
| Loan size range | $125K – $5M | $75K – $2.5M+ |
| Max purchase financing | 90% of purchase | Not published as a standalone figure |
| Max LTC (purchase + rehab) | 95% | Up to 100% of renovation costs |
| Max LTARV | 75% | Up to 70% |
| Min FICO | 680 | 640+ |
| Prior experience required | None required | First-time flippers eligible |
| Published starting rate | From 8.875% | Starting 9.99% (FAQ: “start around 9%”) |
| Term | 15–18 months, interest-only | 6–18 months |
| Min property value | Per guidelines | $50,000 |
| Credit check & income docs | Standard underwriting | “No hard credit pulls”; “no tax returns or bank statements required” |
| Prepay penalty | None | Not published |
We're not going to tell you Ledger is better on every axis. Here's the honest read, based on what each of us publishes.
We'll tell you where we fit, where Groundfloor is the better lender, and if neither of us is right, we'll tell you that too. One phone call, one written quote, no credit pull.
Get a written quote →Business-purpose loans only, not for primary or personal residences. We respond within one business day.
No credit pull. Written quote on the deal you're actually working.
Groundfloor parameters were verified against lending.groundfloor.com on April 17, 2026. Pages referenced: lending.groundfloor.com, /new-construction, /fix-and-flip, /dscr. Ledger parameters reflect current program guidelines published at ledgertc.com as of April 2026. Fields not publicly disclosed by a lender are marked “not published” rather than estimated. Rates advertised with qualifiers (“as low as,” “starting at,” “from,” “start around”) are quoted with the qualifier.
Private lender guidelines change frequently. Rate, LTC, LTV, state, and product availability are subject to change without notice and do not constitute a commitment to lend. Always verify current terms directly with each lender before making a financing decision.
Groundfloor is a trademark of Groundfloor Finance, Inc. Groundfloor is referenced on this page solely to identify the company for the purpose of factual comparative information. Groundfloor is not affiliated with, endorsed by, or partnered with Ledger Trade & Capital, and has not sponsored, reviewed, or approved the content of this page.
Ledger Trade & Capital is a private direct lender financing ground-up construction, DSCR rental, and fix-and-flip loans for licensed builders and experienced real estate developers. Business-purpose loans only; not for primary or personal residences. See ledgertc.com for the latest program sheets.