#8642 Development loan - 8.stage (Lithuania) Funded: 29.11.2022
This loan is operated by Estateguru OÜ and is subject to General Loan Terms. View loan terms
- The loan is used to finance the purchasing of a property and to start with construction work.
- 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.
- 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 8 stage is 32.5% and can increase to 69.0% in further stages.
|Loan Contract Number|
319 investors, €57,216 raised
Collateral value €1,868,600
Projected LTV 69.0%
Loan Period 12 months
Schedule Type Bullet
Mortgage Rank First rank
Collateral Type Residential land (Land)
Loan Type Development loan
Loan Type Sub-Category New construction