#9757 Business loan - 2.stage (Lithuania) Funded: 09.03.2022
This loan is intermediated by Estateguru Lietuva, UAB. For the general loan terms applicable to this loan, please see the Estateguru General Loan Terms.
Executive Summary
- The loan is used to increase the operating capital of the company.
- The loan will be repaid from the company’s business revenues or by refinancing.
- 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 2 stage is 74.8% and can increase to 75.0% in further stages.
Quick Overview
-
Interest 10.5%
-
Status Funded
-
Target €107,500
-
Collateral value €253,000
-
LTV 74.8%
-
Projected LTV 75.0%
-
Loan Period 12 months
-
Schedule Type Bullet
-
Mortgage Rank First rank
-
Collateral Type Semi-detached house (Residential)
-
Loan Type Business loan
-
Loan Type Sub-Category Increase of an operating capital
-
Location Lithuania
