Projects list

Villareal, Castellón - stage 3

Amount of funding 150 000 €

LTV 31%

Annual interest rate 13.00% - 15.00%

Total expected project return 12.99% - 15.00%

Loan period

12 mo.

Risk

B (medium)

Purpose of the loan

Development loan

Collateral Real estate pledge

Country

Spain

Investors 185

Raised:
150 000 € Goal:
150 000 €

100.00%

Project updates

Period paid

2024-05-23

The debtor has paid interest for the period 2024-05-23.

Payment of recovery costs received

2024-05-23

Payment of recovery costs received: 5000.00 €

Information update

2024-05-23

Dear Investors, We are eager to share the news that the issue of loan repayment for the Villareal project, Castellón, Spain (Phase 1) has finally been resolved. The termination of the loan agreement on 2023-07-28 did not bode well, but thanks to the efforts of our legal team, a peaceful settlement was reached. Considering the prospect of lengthy legal proceedings and the information obtained about the debtor's situation during negotiations, we decided to avoid further risk and reduce the loan amount to expedite the recovery of invested funds. Your e-wallets will soon be credited with the invested amounts and approximately 8% annual interest. We are pleased to have resolved this exceptionally challenging case. Regards, Nordstreet team.

Information update

2024-05-15

Please be informed that the signing of the notarial settlement agreement and the repayment of the debt has been postponed to 21 May at the request of the notary. Best regards, Nordstreet team.

Information update

2024-05-02

Please be informed that an amicable repayment has been agreed with the borrower on 15 May. The borrower is in the process of finalising the final financing arrangements. It has been agreed that if the borrower repays the amount of 660TEur by the specified date, the debt will be considered to be repaid in full. Taking into account the prospect of lengthy legal proceedings and the information received during the negotiations about the borrower's assistance, the proposed financing amounts, etc., a compromise decision was taken to reduce the amount of the debt in order to recover the invested funds as soon as possible, with an investor's return of around 8% per annum. The formalities for the transaction are currently being finalised. Best regards to the Nordstreet team.

Information update

2024-03-25

Please be informed that we are negotiating with the borrowers to repay the loan. The borrower has informed that their main activity, the production of ceramic products, is going through bad times due to the war in Ukraine and the increase in the price of gas. The debtor has offered to pay EUR 450 and to pledge other assets to cover the balance of the debt. After the debtor sent us the details of the assets, with the help of his partners in Spain, we estimated the provisional value of the assets offered at 80Teur and rejected the offer, asking for other assets to be pledged or for consideration of other possible solutions to the debt issue. Regards, Nordstreet team.

Information update

2024-01-23

Please be informed that the cooperation agreement with EOS Group partners has been terminated and the invoicing has been transferred to the law firm MA Abogados, https://maabogados.com/. The contract with the former foreclosure partners has been terminated due to the slowness of the process, the large number of intermediaries and the significantly higher than market average prices for services. The new partners have already sent the first letters necessary to be sent under the pre-litigation procedure and are finalising the preparation of the court application. We hope that the cooperation with MA Abogados will soon yield positive results. Best regards, Nordstreet team.

Information update

2024-01-09

Information update

2023-08-02

We would like to inform you that the borrower reported that the payment problems were caused by the reduced volume of production and decreased turnover. The borrower says he is working on the issues and expects to resume payments in September. The borrower informs that he will seek to enter into a settlement agreement and will pledge additional assets to enable such an opportunity. Best regards, Nordstreet team.

The loan has been submitted for recovery

2023-07-28

The agreement was terminated. Initiation of forced execution through the bailiff.

Reminder about the upcoming deadline

2023-07-06

Debtor sent a reminder about the upcoming deadline for payment

Information update

2023-06-07

Please be informed that in the context of projects in Spain, we have received complaints from several borrowers about the excessive compensatory interest rate provided for in the loan agreement, which is not in line with Spanish legislation. To address these complaints and to establish the objective truth, we turned to our legal and recovery partners. We have received clarification from a law firm in Spain that a rate of 0.4% per day of delayed payment is significantly too high and is considered unfair, and cannot be applied, let alone recovered. According to case law and their interpretations, the interest rate should not exceed 0.025% per overdue day if the borrower or the lender of the collateral is a natural person and 0.05% if the borrower and lender of the collateral is a legal person. The 0.05% compensatory interest rate has been applied in this project in line with the above interpretation and in order to avoid the potential additional costs of challenging this contractual clause in court. We regret any inconvenience this change may cause. Please be informed that Nordstreet's administrative fee calculated on the recovered compensatory interest will not be applied in this project. This change to the contract is implemented in accordance with Clause 13.6 of the General Conditions of the Loan Agreement The legal reportprepared by the law firm is available in the "documents" section of the project. Best regards, Nordstreet team.

Update of information on loan delays

2023-05-27

Communication with the debtor is in progress. A solution is sought to pay the overdue amount. We would also like to remind you that late interest is charged for each day of delay.

Notification of breach of payment obligation

2023-05-21

A reminder of breach of payment was sent to the Debtor

Notification of breach of payment obligation

2023-05-14

A reminder of breach of payment was sent to the Debtor

Notification of breach of payment obligation

2023-05-08

A reminder of breach of payment was sent to the Debtor

Possible period delay

2023-04-11

The debtor has informed you of the possible delay in interest payment.

Notification of breach of payment obligation

2023-04-07

A reminder of breach of payment was sent to the Debtor

Reminder about the upcoming deadline

2023-04-06

Debtor sent a reminder about the upcoming deadline for payment

Period paid

2023-01-18

The debtor has paid interest for the period 2023-01-06. Payment delay days: 11.

Possible period delay

2023-01-09

The debtor has informed you of the possible delay in interest payment.

Notification of breach of payment obligation

2023-01-07

A reminder of breach of payment was sent to the Debtor

Reminder about the upcoming deadline

2023-01-06

Debtor sent a reminder about the upcoming deadline for payment

Business loan terms

About the loan

Purpose of the loan Real estate development

Amount of funding 150 000 €

LTV 31 %

Risk B (medium)

Payment of interest Once per quarter

Loan repayment At the end of the loan period

Loan period 12 mo.

Minimum loan period 6 mo.

Collateral

Real estate pledge

Mortgage rank First order mortgage

2rd out of 4 Stages: Summary: The loan of 570,000 euros is requested for MOLCER SA to purchase machinery and optimize resources for cost savings. Thanks to this modernization of machinery and leverage of the investment a considerable profit will be obtained as it will give access to new contracts and perform current and future works in a more efficient way

Molcer has been carried out this strategy for long time, but a credit crunch with traditional institutions due mainly to Covid Crisis forced Molcer to find alternative way of financing.

Thanks to the financing via crowdlending Molcer will obtain new contracts therefore increasing credibility to regain access to traditional bank loan financing and continue his history of growth and success

With reference to the equipment to be purchased, it would be as follows:

2 4-AXIS OKUMA MA-550VB CNC MACHINING CENTRES

1 FIXED BED MILLING MACHINE BELT STANDARD MG

1 SAMAG TFZ 2L-100 DEEP DRILLING MACHINE

With regard to the company's activity

Investment from 100.00 €.

Interest

Annual interest rate

Investing from 100.00 € - fixed interest 13 %
Investing from 1 000.00 € - fixed interest 13.25 %
Investing from 3 000.00 € - fixed interest 13.5 %
Investing from 9 000.00 € - fixed interest 13.75 %
Investing from 15 000.00 € - fixed interest 14 %
Investing from 20 000.00 € - fixed interest 14.5 %
Investing from 25 000.00 € - fixed interest 15 %

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 12 mo.

Minimum loan period 6 mo.

Loan repayment At the end of the loan period

Estimated start date of the loan:* 2022-10-06

Estimated loan repayment date:* 2023-09-30

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 Molcer SA

Company code ESA12088274

Company registration address

Company website https://molcer.com/

MOLCER SA is a company that has been in the sector machinery and tool construction for 30 years, the fundamental reason for this investment is the acquisition of machinery for cost saving and operational improvement, the trajectory of the company proves that it has never seen a decrease in turnover but on the contrary with the modernization of machinery and leverage of the investment a considerable profit will be obtained as it will give access to new contracts and perform current and future works in a more efficient way.

The pledge used for his operation is an asset of remarkable characteristics, partially represent the land where MOLCER operations is located so it could be sold and or reconverted for similar industrial and commercial business but in addition is comprised also of a non-exploited surface that can be sold and used for industrial, commercial and residential purpose and the regional regulation allows so. Finally, the site is located close to a strategic economic activity area, and giving an example Porcelanosa, one of the top tier ceramic producers in Spain has its headquarter located right there and accessible from main highway.

Molcer was founded in 1987. Since then it has been dedicated to the manufacture and repair of all types of moulds and punches in different formats and reliefs. The company was born with a commitment to quality and customer service that we have maintained throughout our history.

ACKNOWLEDGEMENTS

2003 COC - Official Chamber of Commerce Export Award.

2008 CERAFAIR - Iranian Ceramic Producers Syndicate.

2012 CEC - Confederación de Empresarios de Castellon in recognition of our trajectory and commitment as a company.

ACTIVITY

PRODUCTION

Due to the variety of products and the different needs, MOLCER manufactures any variation or exception of the products in the catalogue so that they adapt perfectly to the needs or requirements of the customer.

In the same way, it is also possible to manufacture components derived from any element related to ceramics.

REPAIR

We are a company specialised in the repair of all types of machinery, responding to the needs of the ceramics industry. Most of our work concentrates on the repair of moulds and their components, punching machines, grills, trolleys, etc.

TECHNICAL ASSISTANCE

Among our services we offer a direct contact with our specialised technical staff.

PLANT MAINTENANCE

The plant maintenance programme is vital to achieve high quality production and, not least, cost control. This service is available to our customers with the aim of:

Reduce the need for major repairs.

Maintain machinery at maximum productivity.

Reduce general operating costs.

EMERGENCY SERVICE

We have an emergency service to attend repairs and thus cover all the needs of our customers, providing a solution to any type of incident that may occur.

DESIGN

Our design department creates quality, creative and innovative solutions, always at the forefront of the sector and taking into account the technical needs of the product and the problems that may arise in the manufacturing process.

Translated with www.DeepL.com/Translator (free version)

Loan protection collateral

Loan collateral:

REGISTRY AND/OR CADASTRAL DATA OF THE APPRAISED PROPERTY

The address of the property that appears in the deed does not coincide with the current address. Property Register: VILLARREAL ( VILA - REAL ) number 2 Section:Ud. Reg.C.L.S.R. Valuated Surfaces Registral Valued Registral Verified Adopted F.D.C.72531 L. L. Built Land

Cadastral Reference 1: 7239904YK4273N0001XI

IDUFIR: 12017000651151

MORTGAGE VALUE.Useful m2

72531

V.Mortgages Euros

V.Mortgage Unit

Euros/m2

477,69

Value by comparison

Euros

1.821.828,45

S.Const. m2

3.700,00

First floor occupation: 3.564,90 m2 Plot area: 4.297,34 m2

3.813,83

1.821.828,45

NAV1

Warehouse

V.Insurance to insure the CC as new: (According to D.A 1.2 of ECO 805/2003) 937.058,03 Euros (2)V.Insurance according to Art 10 of RD 716/2009: 1.019.703,72 Euros

Constructed surface without P.P.Z.C. (m2) 3.813,83

Total MV 1.821.828,45 Euros

An updated property valuation report will be provided in the near future. The value of the property in the presented assessment will be at least EUR 1,821,828.

Strengths and risks

Strengths:

The first order of real estate pledge - mortgage.
The project is near the end.

Weaknesses:

Borrower 's activities are in a competitive sector.

Possibilities:

The annual interest rate payable by the borrower is 13.00-15.00%.

Threats:

Uncertain economic situation.

Documents

#	File name	File type	Actions
1	TASACION MOLCER 30-01-20.PDF
2	certificacion catastral 7239904YK4273N0001XI.pdf
3	P59TT59.pdf
4	7522 23_Legal_report.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 150 000 €

LTV 31 %

Risk B (medium)

Payment of interest Once per quarter

Loan repayment At the end of the loan period

Loan period 12 mo.

Minimum loan period 6 mo.

Collateral

Real estate pledge

Mortgage rank First order mortgage

Molcer has been carried out this strategy for long time, but a credit crunch with traditional institutions due mainly to Covid Crisis forced Molcer to find alternative way of financing.

With reference to the equipment to be purchased, it would be as follows:

2 4-AXIS OKUMA MA-550VB CNC MACHINING CENTRES

1 FIXED BED MILLING MACHINE BELT STANDARD MG

1 SAMAG TFZ 2L-100 DEEP DRILLING MACHINE

With regard to the company's activity

Investment from 100.00 €.

Interest

Annual interest rate

Investing from 100.00 € - fixed interest 13 %
Investing from 1 000.00 € - fixed interest 13.25 %
Investing from 3 000.00 € - fixed interest 13.5 %
Investing from 9 000.00 € - fixed interest 13.75 %
Investing from 15 000.00 € - fixed interest 14 %
Investing from 20 000.00 € - fixed interest 14.5 %
Investing from 25 000.00 € - fixed interest 15 %

Loan term and repayment

Loan period 12 mo.

Minimum loan period 6 mo.

Loan repayment At the end of the loan period

Estimated start date of the loan:* 2022-10-06

Estimated loan repayment date:* 2023-09-30

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

Storage

Mortgage rank

First order mortgage

LTV

31%

Report preparation date

2020-01-29

Assessor

Tinsa S.A.U.

Loan collateral:

REGISTRY AND/OR CADASTRAL DATA OF THE APPRAISED PROPERTY

Cadastral Reference 1: 7239904YK4273N0001XI

IDUFIR: 12017000651151

MORTGAGE VALUE.Useful m2

72531

V.Mortgages Euros

V.Mortgage Unit

Euros/m2

477,69

Value by comparison

Euros

1.821.828,45

S.Const. m2

3.700,00

First floor occupation: 3.564,90 m2 Plot area: 4.297,34 m2

3.813,83

1.821.828,45

NAV1

Warehouse

V.Insurance to insure the CC as new: (According to D.A 1.2 of ECO 805/2003) 937.058,03 Euros (2)V.Insurance according to Art 10 of RD 716/2009: 1.019.703,72 Euros

Constructed surface without P.P.Z.C. (m2) 3.813,83

Total MV 1.821.828,45 Euros

An updated property valuation report will be provided in the near future. The value of the property in the presented assessment will be at least EUR 1,821,828.

Debtor

Company title Molcer SA

Company code ESA12088274

Company registration address

Company website https://molcer.com/

ACKNOWLEDGEMENTS

2003 COC - Official Chamber of Commerce Export Award.

2008 CERAFAIR - Iranian Ceramic Producers Syndicate.

2012 CEC - Confederación de Empresarios de Castellon in recognition of our trajectory and commitment as a company.

ACTIVITY

PRODUCTION

In the same way, it is also possible to manufacture components derived from any element related to ceramics.

REPAIR

TECHNICAL ASSISTANCE

Among our services we offer a direct contact with our specialised technical staff.

PLANT MAINTENANCE

The plant maintenance programme is vital to achieve high quality production and, not least, cost control. This service is available to our customers with the aim of:

Reduce the need for major repairs.

Maintain machinery at maximum productivity.

Reduce general operating costs.

EMERGENCY SERVICE

We have an emergency service to attend repairs and thus cover all the needs of our customers, providing a solution to any type of incident that may occur.

DESIGN

Translated with www.DeepL.com/Translator (free version)

Project updates

Period paid

2024-05-23

The debtor has paid interest for the period 2024-05-23.

Payment of recovery costs received

2024-05-23

Payment of recovery costs received: 5000.00 €

Information update

2024-05-23

Information update

2024-05-15

Please be informed that the signing of the notarial settlement agreement and the repayment of the debt has been postponed to 21 May at the request of the notary. Best regards, Nordstreet team.

Information update

2024-05-02

Information update

2024-03-25

Information update

2024-01-23

Information update

2024-01-09

Information update

2023-08-02

The loan has been submitted for recovery

2023-07-28

The agreement was terminated. Initiation of forced execution through the bailiff.

Reminder about the upcoming deadline

2023-07-06

Debtor sent a reminder about the upcoming deadline for payment

Information update

2023-06-07

Update of information on loan delays

2023-05-27

Communication with the debtor is in progress. A solution is sought to pay the overdue amount. We would also like to remind you that late interest is charged for each day of delay.

Notification of breach of payment obligation

2023-05-21

A reminder of breach of payment was sent to the Debtor

Notification of breach of payment obligation

2023-05-14

A reminder of breach of payment was sent to the Debtor

Notification of breach of payment obligation

2023-05-08

A reminder of breach of payment was sent to the Debtor

Possible period delay

2023-04-11

The debtor has informed you of the possible delay in interest payment.

Notification of breach of payment obligation

2023-04-07

A reminder of breach of payment was sent to the Debtor

Reminder about the upcoming deadline

2023-04-06

Debtor sent a reminder about the upcoming deadline for payment

Period paid

2023-01-18

The debtor has paid interest for the period 2023-01-06. Payment delay days: 11.

Possible period delay

2023-01-09

The debtor has informed you of the possible delay in interest payment.

Notification of breach of payment obligation

2023-01-07

A reminder of breach of payment was sent to the Debtor

Reminder about the upcoming deadline

2023-01-06

Debtor sent a reminder about the upcoming deadline for payment

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Villareal, Castellón - stage 3

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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Villareal, Castellón - stage 3

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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