#4108 Bridge loan - 23.stage (Latvia) Funded: 26.04.2023 - Refinancing of #4108 Bridge loan - 3.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.
    •  The architectural contest has been finalised and the Developer is now starting working on full technical design documentation.

    • 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 60.76% 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
331 investors, €24,548 raised
  • Status Funded
  • Target €80,524
  • Collateral value €1,455,000
  • LTV 60.76%
  • Projected LTV 64.7%
  • 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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