#7857 Development loan - 7.stage (Estonia) Funded: 10.10.2022

This loan is operated by Estateguru OÜ and is subject to General Loan Terms. View loan terms

Executive Summary

    • The loan is used to continue construction works.
    • 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.
    • 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 59.39% and can increase to 69.0% in further stages.
    • The loan is being refinanced to give the borrower more time to conclude pre-construction actions (land development).

Loan Terms

Loan Contract Number

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Quick Overview
413 investors, €37,244 raised
  • Status Funded
  • Target €67,340
  • Collateral value €536,600
  • LTV 59.39%
  • Projected LTV 69.0%
  • Loan Period 12 months
  • Schedule Type Full bullet
  • Mortgage Rank First rank
  • Collateral Type Apartment (Residential)
  • Loan Type Development loan
  • Loan Type Sub-Category New construction
  • Location Estonia

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