Loan
The remaining € 35,000 is needed to fund this phase.
Total financing amount is € 121,000 which will be used for the purchase and renovation of the building. € 86,000 raised in Stage I.
Loan collateral
First-line mortgage on existing real estate - Mortgage.
The value of the property is € 200 100.
Additional protection: personal surety of the supervisor.
Investment risk: A (low)
LTV: LTV 17% Phase II (60% overall for the two phases)
Mortgaged property
The value of the pledged property is € 200 100:
1) 0,5632 sq.m land / other / industrial warehousing sites with area
2) 150.83 sq.m building - warehouse with area
3) other engineering structures - yard structures
Interest:
- Investing from 100 € - interest 10,5%
- Investing from 2,500 € - interest 11%
- Investing from 7,500 € - interest 11.5%
- Investing from 20,000 € - interest 12%
Interest on the loan is calculated from the end date of the auction and is paid monthly.
Loan Period
Loan term: 11 months (with option to repay earlier, but not earlier than 2 months).
If the Borrower repays the Loan Amount or part thereof less than 2 months after the due date of 11 months, the Borrower undertakes to pay interest to the Lender for a period of 2 months. After a period of 2 months, the Borrower may repay the loan at no additional charge.
Loan repayment period
Expected loan start date: 2019 10 18
Expected loan repayment date: 2020 06 18 - 2020 09 18