Projects list

Land project in Baltų, Šaltinio str., Palangos city municipality, Lithuania (2 nd rate mortgage) refinancing 1 stage

Project finished

Amount of funding 30 000 €

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 73

Raised:
30 000 € Goal:
30 000 €

100.00%

Project updates

Loan repaid

2023-04-15

The debtor has repaid the loan. Duration of loan 185 d.

Period paid

2022-12-01

The debtor has paid interest for the period 2022-11-30.

Reminder about the upcoming deadline

2022-11-30

Debtor sent a reminder about the upcoming deadline for payment

Period paid

2022-10-27

The debtor has paid interest for the period 2022-10-30.

Period paid

2022-09-28

The debtor has paid interest for the period 2022-09-30.

Period paid

2022-08-26

The debtor has paid interest for the period 2022-08-30.

Period paid

2022-07-26

The debtor has paid interest for the period 2022-07-30.

Period paid

2022-06-27

The debtor has paid interest for the period 2022-06-30.

Business loan terms

About the loan

Purpose of the loan Real estate development

Amount of funding 30 000 €

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

Guarantees / surety

Mortgage rank Second order mortgage

Purpose of the loan

The funding required for this phase is EUR 56 500, which be funded in 2 stages. Loan which will be allocated for refinancing existing loan obligations on the Nordstreet platform. Part of the first loan has already been successfully repaid.

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:* 2022-05-30

Estimated loan repayment date:* 2022-11-30

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" is established in February 2021. Company engaged in real estate development in Monciškių, Latgalių and Baltų streets in Palanga.

Sales revenue in 2021 - 1 mln. 317 thousand EUR.
Net profit in 2021 - 289 thousand EUR.
Total assets of the company in 2021 - 219 thousand EUR.
Equity in assets based on the presented balance sheet in 2021 accounted for 4 percent.
Current assets in 2021 - 573 thousand EUR (including 338 thousand EUR for stocks, advances paid and work in progress), short-term payable amounts 1 mln. 486 thousand EUR.
The company has 4 employees.

Loan protection collateral

Loan collateral

Second real estate mortgage on existing real estate (land under development). Pledged assets:

Land plot, unique number 4400-1799-8935, total area is 0,3617 ha, located in Baltų str. 14A, Palanga City Municipality, Lithuania, value - 83 000 EUR;
Land plot, unique number 4400-5511-0810, total area is 0,0348 ha, located in Palanga City Municipality, Lithuania, value - 7 000 EUR;
Land plot, unique number 4400-1529-7815, total area is 0,5636 ha, located in Šaltinio str. 2, Palanga City Municipality, Lithuania, value - 110 000 EUR.

Value of pledged property: EUR 200 000

The first order of real estate pledge - mortgage is also secured on the Nordstreet platform, where a loan of EUR 235 000 (the remaining part of the loan is EUR 93 872) was granted. The total amount of loans granted will not exceed EUR 150 372.

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

Additional collateral: company guarantee (bill) - in the amount of EUR 100 500.

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
3	RITATA Balansas 2021-12-31..pdf
4	Ritata PN ataskaita 2021-12-31..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 30 000 €

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

Guarantees / surety

Mortgage rank Second order mortgage

Purpose of the loan

The loan will be repaid from the proceeds of the sale of the property or by refinancing at another financial institution.

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:* 2022-05-30

Estimated loan repayment date:* 2022-11-30

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

Guarantees / surety

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

Second real estate mortgage on existing real estate (land under development). Pledged assets:

Land plot, unique number 4400-1799-8935, total area is 0,3617 ha, located in Baltų str. 14A, Palanga City Municipality, Lithuania, value - 83 000 EUR;
Land plot, unique number 4400-5511-0810, total area is 0,0348 ha, located in Palanga City Municipality, Lithuania, value - 7 000 EUR;
Land plot, unique number 4400-1529-7815, total area is 0,5636 ha, located in Šaltinio str. 2, Palanga City Municipality, Lithuania, value - 110 000 EUR.

Value of pledged property: EUR 200 000

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

Additional collateral: company guarantee (bill) - in the amount of EUR 100 500.

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Land project in Baltų, Šaltinio str., Palangos city municipality, Lithuania (2 nd rate mortgage) refinancing 1 stage

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, Šaltinio str., Palangos city municipality, Lithuania (2 nd rate mortgage) refinancing 1 stage

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

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Bistryčios st. 27, Vilnius, Lithuania (1 stage)

Business loan #00342

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