#1439 Bridge loan - 1.stage (Estonia) - Repaid Repaid: 01.02.2023
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 for buying and renting out the property.
- The loan will be repaid from the sale of the collateral property or refinancing by 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.
- Borrower adds a 1% bonus to annual interest for investments of at least €25,000 (combined annual interest 11.5%).
In addition to the 1st rank mortgage, the collateral consists: - Commercial pledge for Startup Baltic OÜ assets, for which the list of assets submitted to Estateguru is provided.
- The borrower retains an opportunity to raise additional capital if necessary, provided that the LTV does not exceed 56.0%.
- The established mortgage will also cover additional stages of financing.
- The LTV in the 1 stage is 27.9% and can increase to 56.0% in further stages.
Quick Overview
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Interest 10.5%
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Status Repaid
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Target €975,000
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Collateral value €3,500,000
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LTV 27.9%
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Projected LTV 56.0%
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Loan Period 18 months
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Schedule Type Bullet
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Mortgage Rank First rank
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Collateral Type Industrial/Warehouse building (Commercial)
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Loan Type Bridge loan
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Loan Type Sub-Category Buy for earning future cash flow
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Location Estonia
