#01535723 Development loan - 1.stage (Latvia) Funded: 29.02.2024

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 continue construction works.
    • The loan will be repaid from sales revenue of a completed development project.
    • 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, provided that the ratio of the loan and the market value of the collateral (LTV) does not exceed 50.0%.
    • The established mortgage will also cover loans of additional stages of financing.
    • Prior to the additional stages 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 the 1 stage is 50.0% and can increase to 50.0% in further stages.

Loan Terms

Loan Contract Number

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Quick Overview
1,221 investors, €148,500 raised
  • Status Funded
  • Target €148,500
  • Collateral value €297,000
  • LTV 50.0%
  • Projected LTV 50.0%
  • Risk category Baa3
  • Loan Period 12 months
  • Schedule Type Bullet
  • Mortgage Rank First rank
  • Collateral Type Semi-detached house (Residential)
  • Loan Type Development loan
  • Loan Type Sub-Category New construction
  • Location Latvia

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