#4108 Bridge loan - 14.stage (Latvia) - Repaid Repaid: 20.03.2024 - Refinancing of #4108 Bridge loan - 2.stage (Latvia)

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 refinance an outstanding Estateguru loan with the purpose of extending the loan period.
    • 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.
    • Architectural contest for the project is in process, during which the most suitable design for the building will be selected.

    • 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 14 stage is 61.39% and can increase to 64.7% in further stages.
    • The loan is being refinanced to extend the loan period. The borrower will repay the accrued interest (including indemnity and penalty fees, if any) for the previous loan period.

Loan Terms

Loan Contract Number

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Quick Overview
232 investors, €20,629 raised
  • Status Repaid
  • Target €67,416
  • Collateral value €1,455,000
  • LTV 61.39%
  • Projected LTV 64.7%
  • Risk category N/A
  • Loan Period 12 months
  • Schedule Type Full bullet
  • Mortgage Rank First rank
  • Collateral Type Residential land (Land)
  • Loan Type Bridge loan
  • Loan Type Sub-Category Other
  • Location Latvia

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