#0839 Business loan - 6.stage (Estonia) Funded: 27.01.2023
This loan is intermediated by Estateguru OÜ. For the general loan terms applicable to this loan, please see the Estateguru General Loan Terms.
Executive Summary
- The loan is used to continue construction works.
- The loan will be repaid by refinancing with a long-term bank loan.
- The loan is secured with a first rank mortgage.
- Member of the management board of the borrower will provide a personal surety in the full mortgage amount.
- The borrower retains the opportunity to raise additional capital, if necessary, as the collateral value increases.
- The mortgage was established during a prior financing process and will also cover additional stages of financing.
- Prior to the next stage of financing, construction supervision must confirm the completed works (if construction has commenced and works have been performed in a considerable amount) and a third party must assess the market value of the collateral.
- The LTV in 6 stage is 51.45% and can increase to 60.0% in further stages.
Quick Overview
-
Interest 11.0%
-
Status Funded
-
Target €110,000
-
Collateral value €1,817,000
-
LTV 51.45%
-
Projected LTV 60.0%
-
Loan Period 18 months
-
Schedule Type Bullet
-
Mortgage Rank First rank
-
Collateral Type Office building (Commercial)
-
Loan Type Business loan
-
Loan Type Sub-Category Other
-
Location Estonia
