Projects list

Land project in Baltų, Monciškių, Šaltinio str. Palangos city municipality, Lithuania (2 nd rate mortgage)

Project finished

Amount of funding 117 500 €

LTV 75%

Annual interest rate 9.00% - 10.25%

Total expected project return 4.50% - 5.12%

Loan period

6 mo.

Risk

C (higher)

Purpose of the loan

Development loan

Collateral Real estate pledge

Country

Lithuania

Investors 126

Raised:
117 500 € Goal:
117 500 €

100.00%

Project updates

Loan repaid

2023-04-15

The debtor has repaid the loan. Duration of loan 182 d.

Period paid

2022-05-31

The debtor has paid interest for the period 2022-05-30.

Period paid

2022-05-17

The debtor has paid interest for the period 2022-05-17.

Period paid

2022-05-05

The debtor has paid interest for the period 2022-05-05.

Period paid

2022-04-26

The debtor has paid interest for the period 2022-04-30.

Period paid

2022-03-28

The debtor has paid interest for the period 2022-03-30.

Period paid

2022-02-25

The debtor has paid interest for the period 2022-02-28.

Period paid

2022-01-28

The debtor has paid interest for the period 2022-01-30.

Period paid

2021-12-28

The debtor has paid interest for the period 2021-12-30.

Business loan terms

About the loan

Purpose of the loan Real estate development

Amount of funding 117 500 €

LTV 75 %

Risk C (higher)

Payment of interest Every month

Loan repayment At the end of the loan period

Loan period 6 mo.

Minimum loan period 2 mo.

Collateral

Real estate pledge

Mortgage rank Second order mortgage

Purpose of the loan

The funding required for this phase is EUR 117 500, which will be used for development and construction works of the project. Work has already begun on the buildings with existing permit issued. The loan will be repaid from the proceeds of the sale of the property or by refinancing at another financial institution.

About the project

Currently construction is in progress and 12 houses are being built, each with an area of 100 m2, invested up to 400 TEUR in the company's own funds. Funds raised will be used to finance construction work, as the materials have been purchased in advance. Reservations are already in progress. More about the project https://j7.lt/.

Investment from 100.00 €.

Interest

Annual interest rate

Investing from 100.00 € - fixed interest 9 %
Investing from 1 500.00 € - fixed interest 9.5 %
Investing from 500.00 € - fixed interest 9.25 %
Investing from 3 000.00 € - fixed interest 9.75 %
Investing from 9 000.00 € - fixed interest 10 %
Investing from 15 000.00 € - fixed interest 10.25 %

The Interest on the Loan Amount shall be calculated from and including the date of disbursement of the Loan Amount to the Debtor's Account or to such other account (or accounts) as notified by the Debtor to the Operator in writing prior to the disbursement of the Loan Amount.

Loan term and repayment

Loan period 6 mo.

Minimum loan period 2 mo.

Loan repayment At the end of the loan period

Estimated start date of the loan:* 2021-11-30

Estimated loan repayment date:* 2022-05-30

If the Debtor repays the Loan earlier than after the specified minimum loan period, it undertakes to pay interest to the Lender for the entire specified minimum period.

* The loan is planned to be repaid by the end of the project term from the expected growing income of the company, increasing profits, sale of assets or refinancing of the loan.

Procedure for disputes between parties to a financing transaction

The investor has the right to withdraw their investment within 96 hours from the submission of the money lending proposal on the platform

Debtor

Company title LTD Ritata

Company code 305697467

Company registration address

Company website https://j7.lt/

UAB "Ritata" engaged in real estate development in Monciškių, Latgalių and Baltų streets in Palanga. In 2021Y balance sheet assets amounted to 1.8 million EUR based on the submitted financial statements of 2021 IIIQ, including fixed assets of 0.4 million EUR, current assets 1.49 million EUR, equity 46 TEUR, sales 198 TEUR, net profit 35 TEUR.

Loan protection collateral

Loan collateral

Second real estate mortgage on existing real estate (land under development). The loan will be repaid upon sale of the company's development assets, from the company's profits or after refinancing the loan. It should be noted that houses that have not been appraised have already been started and are under construction, so it is likely that the total value will be much higher after the registration of the buildings and the appraisal.

The first order of real estate pledge - mortgage is also secured on the Nordstreet platform, where a loan of EUR 235,000 was granted. The total amount of loans granted will not exceed EUR 352 500.

LTV: not more than 75% (of the pledged value of the land plots).

Pledged property: 9 plots of residential land with a total area of 1.9816 ha, located in Baltų, Monciškių, Šaltinio str. Palanga City Municipality, Lithuania.

Value of pledged property: EUR 470 000

Location

Between Palanga and Šventoji. The neighborhood is being developed in a quiet location, halfway between the major seaside resorts, making it a great place to appreciate privacy and tranquility without the added hustle and bustle of the city. Convenient location for bicycle trips to Palanga or Šventoji, asphalt road to the residential are and paved path to the door.

Strengths and risks

Strengths:

The borrower made payments on time and without delay. (current loan at Nordstreet)
The second rate real estate mortgage.

Weaknesses:

The borrower has been operating for less than a year.
Borrower 's activities are in a competitive sector.
The LTV rate of the project is high.

Possibilities:

The annual interest rate payable by the borrower is 9.00-10.25%.

Threats:

Uncertain economic situation.
Property is in development stage.
Rising cost of building materials.

Documents

#	File name	File type	Actions
1	1f965400f5cec7926627faa19af1d6df.pdf
2	Statybos leidimas.pdf

Important

Nordstreet takes the following measures to ensure a safer investment:

The loan to value ratio of the project will not exceed the LTV ratio provided in the project description, including in cases when the project will be financed in stages.
If the required amount of funding is not collected before the start of the project, all investments will be returned to the investors. Upon application by the Debtor, the financing may be considered to have been successfully completed with a smaller amount collected, the financing of the project may be divided into several stages and / or the financing period of the project may be extended. In these cases, Nordstreet informs the funders and publishes the information on the completion of the project with a smaller amount, the division of the project funding into several stages or the extension of the project funding period on its website together with other information about the project.
By investing in a project, financiers acquire rights of recourse (claim rights). Nordstreet may provide the financiers with the possibility to transfer these claim rights to other users of the platform on the Secondary Market in accordance with the User Terms.
The activities of UAB Nordstreet are supervised by the Bank of Lithuania and UAB Nordstreet is included on the Public List of Operators of Crowdfunding Financing Platforms administered by the Bank of Lithuania.

About the loan

Purpose of the loan Real estate development

Amount of funding 117 500 €

LTV 75 %

Risk C (higher)

Payment of interest Every month

Loan repayment At the end of the loan period

Loan period 6 mo.

Minimum loan period 2 mo.

Collateral

Real estate pledge

Mortgage rank Second order mortgage

Purpose of the loan

About the project

Investment from 100.00 €.

Interest

Annual interest rate

Investing from 100.00 € - fixed interest 9 %
Investing from 1 500.00 € - fixed interest 9.5 %
Investing from 500.00 € - fixed interest 9.25 %
Investing from 3 000.00 € - fixed interest 9.75 %
Investing from 9 000.00 € - fixed interest 10 %
Investing from 15 000.00 € - fixed interest 10.25 %

Loan term and repayment

Loan period 6 mo.

Minimum loan period 2 mo.

Loan repayment At the end of the loan period

Estimated start date of the loan:* 2021-11-30

Estimated loan repayment date:* 2022-05-30

If the Debtor repays the Loan earlier than after the specified minimum loan period, it undertakes to pay interest to the Lender for the entire specified minimum period.

* The loan is planned to be repaid by the end of the project term from the expected growing income of the company, increasing profits, sale of assets or refinancing of the loan.

Procedure for disputes between parties to a financing transaction

The investor has the right to withdraw their investment within 96 hours from the submission of the money lending proposal on the platform

Loan protection collateral

Collateral

Real estate pledge

Property type

Residential

Mortgage rank

Second order mortgage

LTV

75%

Documentation

Asset Valuation Report

Report preparation date

2021-04-22

Assessor

UAB „OBER-HAUS“

Loan collateral

The first order of real estate pledge - mortgage is also secured on the Nordstreet platform, where a loan of EUR 235,000 was granted. The total amount of loans granted will not exceed EUR 352 500.

LTV: not more than 75% (of the pledged value of the land plots).

Pledged property: 9 plots of residential land with a total area of 1.9816 ha, located in Baltų, Monciškių, Šaltinio str. Palanga City Municipality, Lithuania.

Value of pledged property: EUR 470 000

Location

Project updates

Loan repaid

2023-04-15

The debtor has repaid the loan. Duration of loan 182 d.

Period paid

2022-05-31

The debtor has paid interest for the period 2022-05-30.

Period paid

2022-05-17

The debtor has paid interest for the period 2022-05-17.

Period paid

2022-05-05

The debtor has paid interest for the period 2022-05-05.

Period paid

2022-04-26

The debtor has paid interest for the period 2022-04-30.

Period paid

2022-03-28

The debtor has paid interest for the period 2022-03-30.

Period paid

2022-02-25

The debtor has paid interest for the period 2022-02-28.

Period paid

2022-01-28

The debtor has paid interest for the period 2022-01-30.

Period paid

2021-12-28

The debtor has paid interest for the period 2021-12-30.

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Land project in Baltų, Monciškių, Šaltinio str. Palangos city municipality, Lithuania (2 nd rate mortgage)

About the loan

Investment from 100.00 €.

Interest

Annual interest rate

Loan term and repayment

Strengths:

Weaknesses:

Possibilities:

Threats:

Nordstreet takes the following measures to ensure a safer investment:

About the loan

Investment from 100.00 €.

Interest

Annual interest rate

Loan term and repayment

Loan protection collateral

Debtor

Strengths and risks

Strengths:

Weaknesses:

Possibilities:

Threats:

Documents

Nordstreet takes the following measures to ensure a safer investment:

Project updates

Secondary market

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Land project in Baltų, Monciškių, Šaltinio str. Palangos city municipality, Lithuania (2 nd rate mortgage)

Please register or sign in to access this information.

About the loan

Investment from 100.00 €.

Interest

Annual interest rate

Loan term and repayment

Strengths:

Weaknesses:

Possibilities:

Threats:

Nordstreet takes the following measures to ensure a safer investment:

Please register or sign in to access this information.

About the loan

Investment from 100.00 €.

Interest

Annual interest rate

Loan term and repayment

Loan protection collateral

Debtor

Strengths and risks

Strengths:

Weaknesses:

Possibilities:

Threats:

Documents

Nordstreet takes the following measures to ensure a safer investment:

Project updates

Secondary market

Latest loans

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Quarter "Asiūklės parkas" (developed by "Lapino namai") ​​Riešės mun., Vilnius d., Lithuania (3 stage)

Bistryčios st. 27, Vilnius, Lithuania (6 stage)

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