Purpose of a business loan
The financing requires an amount of € 310 000, which will be used for the planned development of an investment apartment project with refinancing of a part of the loan and preparatory works for the land plot.
Loan collateral
Mortgage of the first line of existing real estate - Mortgage. The loan will be repaid from the sale of the company's development assets, current and future profits or after refinancing the loan.
Manager and shareholder guarantee.
Investment risk: C (higher)
LTV: 62%
Pledged property: 0.1427 hectare land plot with a construction permit (territories of multi-apartment residential buildings and dormitory objects, un.nr 4400-0534-6081,) address Kapsų str.3, Vilnius city municipality.
Value of mortgaged property: 503 000 EUR
Interest:
• When investing from 100 € - interest 11.25%
• When investing from 500 € - interest 11.5%
• When investing from 1 500 € - interest 11.75%
• When investing from 3 000 € - interest 12%
• When investing from 7 500 € - interest 12.25%
• When investing from 15 000 € - interest 12.5%
Loan term
16 months (with the possibility of repayment earlier, but not earlier than after a period of 4 months).
If the Borrower repays the Loan amount or a part thereof earlier than 4 months after the due date of 16 months, it undertakes to pay interest to the Lender for a period of 4 months. After a period of 4 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 25
Expected repayment date of the loan: 2022 02 01 - 2022 04 01