#35919683 Bridge loan - 7.stage (Estonia) Funded: 20.09.2023 - Refinancing of #9338 Bridge loan - 4.stage (Estonia), #9338 Bridge loan - 1.stage (Estonia), #9338 Development loan - 6.stage (Estonia), #9338 Development loan - 5.stage (Estonia), #9338 Bridge loan - 3.stage (Estonia), #9338 Bridge loan - 2.stage (Estonia)
This loan is intermediated by Estateguru OÜ. For the general loan terms applicable to this loan, please see the Estateguru General Loan Terms.
- The loan is used for meeting current obligations before securing a long term financing.
- The loan will be repaid by refinancing with a long-term bank loan.
- The loan is secured with a first rank mortgage.
- Borrower adds a 0.5% bonus to annual interest for investments of at least €15,000.
- 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 7 stage is 39.3% and can increase to 53.0% in further stages.
- The loan is being refinanced to extend the loan period. The borrower will repay the accrued interest (including indemnity and penalty fees, if any) for the previous loan period.
|Loan Contract Number|
Interest 11.5%Investment ≥ €15,000 = 0.5% Bonus
2,023 investors, €601,300 raised
Collateral value €8,640,000
Projected LTV 53.0%
Loan Period 12 months
Schedule Type Bullet
Mortgage Rank First rank
Collateral Type Mixed-use (Land)
Loan Type Bridge loan
Loan Type Sub-Category Other