#6687 Bridge loan - 23.stage (Finland) Funded: 31.03.2023
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 release equity capital and increase the operating capital of the company.
- The loan will be repaid by refinancing, from the sale of the collateral property, or from the incoming business revenues of the company.
- The loan is secured with a first rank mortgage.
- 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 23 stage is 21.6% and can increase to 43.0% in further stages.
Quick Overview
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Interest 11.5%
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Status Funded
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Target €100,000
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Collateral value €10,100,000
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LTV 21.6%
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Projected LTV 43.0%
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Risk category
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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 Office building (Commercial)
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Loan Type Bridge loan
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Loan Type Sub-Category Other
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Location Finland
