About the loan
The funding will require € 69,500 to be used for further construction work on the building.
Loan collateral
First-line mortgages on existing real estate - Mortgage.
The value of the property is € 335,400. The full property valuation is uploaded in the Documents section.
The loan will be repaid from the company's current and realized profits.
Investment risk: B (medium)
LTV: 58%
Mortgaged property
The value of the mortgaged property is € 335,400. Land plot with an unfinished apartment building is evaluated.
Interest:
- Investing from 100 € - interest 11%
- Investing from € 20,000 - 12% interest
Interest on the loan is calculated from the end date of the auction and is paid monthly.
Loan Period
Loan term: 6 months (with option to repay earlier, but not earlier than 3 months).
If the Borrower repays the Loan Amount or a portion thereof less than 3 months after the due date of 6 months, the Borrower shall pay interest to the Lender for a period of 3 months. After a period of 3 months, the Borrower may repay the loan at no additional charge.
Company loan repayment period
Start of the project (I stage): 2019 04 10
Project preparation and process progress: 2019 04 01 - 2019 12 01 (8 months)
Start of project sales: 2019 08 01
Expected end of the project: 2019 12 01 - 2020 02 01