About the Loan
The funding will require an amount of € 795,000 to finance the construction work of the newly launched spa center and the refinancing of the existing loan.
Loan collateral
First-line mortgages on existing real estate - Mortgage.
The value of the property is € 2,697,000. Full property valuation reports are uploaded in the Documents section.
The loan will be repaid from the company's operating income, sale of assets, lease or refinancing the loan.
Investment risk: A (low)
LTV: 29%
Collateral: The value of the collateral is € 2,697,000. Buildings, premises (residential) and other engineering structures total 17 property units. and land plots in total 16 property units.
Interest:
- Investing from 100 € - interest 11%
- Investing from € 10,000 - Interest 11.5%
- Investing from € 25,000 - 12% interest
- Investing from € 40,000 - 12,5% interest
Interest on the loan is calculated from the end date of the auction and is paid monthly.
Loan Period
Loan term: 21 months (with option to repay earlier but not earlier than 6 months).
If the Borrower repays the Loan Amount or part thereof less than 6 months after the due date of 21 months, the Borrower shall pay interest to the Lender for a period of 6 months. After a period of 6 months, the Borrower may repay the Loan at no additional charge.
Company loan repayment period
Start of project: 2019 11 30
Probable completion of the project: 2020 12 10 - 2021 03 10