projet: Zentenes development loan - 1.stage (Riga, Latvia)

[julien]

 Zentenes development loan - 1.stage (Riga, Latvia)

   
Interest Rate:    12.5 %
Expires:    in 9 days
Target:    â‚¬ 290,000
Loan Period:    18 months
LTV    49.0 %

    The capital will be raised for pre-development period of a residential project in Riga, Latvia.
    As a loan collateral, the borrower is offering the residential land plot of maximum building right of 18 046 m2.
    EstateGuru security agent will have the 1. rank mortgage on behalf of the lenders.
    The loan will be refinanced by a strategic partner or by selling the project within 18 months and after the construction permit has been issued.
    The money will be raised in two stages in accordance with the increase of the market value of collateral. During the two stages, the loan amount could total up to €430,000.
    LTV (Loan-to-Value) ratio is 49%