Purpose of a business loan
This phase requires funding of 100 000 € for the project building renovation, environment and infrastructure works under development
Loan collateral
Mortgage of the first line of existing property - Mortgage. The loan will be repaid after the sale of all / part of the pledged property, from the sale of the company's development assets, current and future profits or after refinancing the loan.
Guarantee of the manager and shareholder.
Investment risk: A (low)
LTV: 48% (maximum possible LTV ratio 55%)
Pledged property: Holiday complex consisting of 1527.66 m2 of buildings and 6.7511 ha of land plots, located at the address Molėtai district municipality., Inturkės eldership., Kamužė 3, 3A, 3B, Lithuania.
Value of mortgaged property: 724 000 €
Interest:
When investing from 100 € - interest 10.5%
When investing from 500 € - interest 10.75%
When investing from 1 000 € - interest 11%
When investing from 2 500 € - interest 11.25%
When investing from 7 500 € - interest 11.5%
When investing from 15 000 € - interest 11.75%
When investing from 25 000 € - interest 12%
Loan term
23 months (with the possibility of repayment earlier, but not earlier than after a period of 5 months).
If the Borrower repays the Loan amount or a part thereof earlier than 5 months after the due date of 23 months, it undertakes to pay interest to the Lender for a period of 5 months. After a period of 5 months, the Borrower may repay the loan (together with the applicable interest) without any additional fees.
Company loan repayment period
Estimated start date of the loan: 2021 04 30
Expected repayment date of the loan: 2022 03 30 - 2022 10 30