Purpose of a business loan
Full financing requires an amount of 240 000 EUR (possible 2 stage of financing, but maximum possible LTV rate will not exceed 50%), which will be allocated to a development project for a potential tenant with preparatory works for the land plot and the start of construction. Land during its development period could be sold to other investor.
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.
Guarantee of the manager and shareholder.
Investment risk: B (medium)
LTV: 40% (Maximum possible LTV rate 50%)
Pledged property: Land plot (other, territory of industrial and storage facilities) 7910–0001-0147, with the total area of 13.16 hectares, address Migūčionių str.2A, Eelektrėnai city municipality.
Value of mortgaged property: 596 000 EUR
Interest:
• When investing from 100 € - interest 10.5%
• When investing from € 5,000 - interest 11%
• When investing from 10 000- € - interest 11.5%
• When investing from 25 000- € - interest 12%
Loan term
18 months (with the possibility of repayment earlier, but not earlier than after a period of 6 months).
If the Borrower repays the Loan amount or part thereof earlier than 6 months after the due date of 18 months, it undertakes to pay interest to the Lender for a period of 6 months. After a period of 6 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: 2020 11 20
Expected repayment date of the loan: 2021 10 01 - 2022 02 01