#8967 Bridge loan - 1.stage (Estonia) Opened: 02.02.2022 - Refinancing of #4291 Bridge loan (Estonia)

  • #8967 Bridge loan - 1.stage (Estonia)
  • #8967 Bridge loan - 1.stage (Estonia)
  • #8967 Bridge loan - 1.stage (Estonia)
  • #8967 Bridge loan - 1.stage (Estonia)
  • #8967 Bridge loan - 1.stage (Estonia)
  • #8967 Bridge loan - 1.stage (Estonia)
  • #8967 Bridge loan - 1.stage (Estonia)
  • #8967 Bridge loan - 1.stage (Estonia)
  • #8967 Bridge loan - 1.stage (Estonia)
  • #8967 Bridge loan - 1.stage (Estonia)
  • #8967 Bridge loan - 1.stage (Estonia)
  • #8967 Bridge loan - 1.stage (Estonia)
  • #8967 Bridge loan - 1.stage (Estonia)
  • #8967 Bridge loan - 1.stage (Estonia)
  • #8967 Bridge loan - 1.stage (Estonia)
  • #8967 Bridge loan - 1.stage (Estonia)
  • #8967 Bridge loan - 1.stage (Estonia)
  • #8967 Bridge loan - 1.stage (Estonia)
  • #8967 Bridge loan - 1.stage (Estonia)
  • #8967 Bridge loan - 1.stage (Estonia)
  • #8967 Bridge loan - 1.stage (Estonia)
  • #8967 Bridge loan - 1.stage (Estonia)
  • #8967 Bridge loan - 1.stage (Estonia)
  • #8967 Bridge loan - 1.stage (Estonia)
  • #8967 Bridge loan - 1.stage (Estonia)
  • #8967 Bridge loan - 1.stage (Estonia)
  • #8967 Bridge loan - 1.stage (Estonia)
  • #8967 Bridge loan - 1.stage (Estonia)

Executive Summary

    • The loan is used to refinance outstanding obligations and continue with the construction work.
    • 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 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 59.0%.
    • 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 45.4% and can increase to 59.0% in further stages.
    • The loan is being refinanced to give the borrower more time to conclude pre-construction actions (land development). The borrower will repay the accrued interest (including indemnity and penalty fees, if any) for the previous loan period.
    • The development project is financed based on the value of construction invoices, which arise from construction supervision acts prepared on the basis of the work performed. Consequently, we consider the cost of construction work actually performed, in addition to the primary market value, to be the value of the collateral.

Loan Terms

Loan Contract Number

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Quick Overview
67.3% filled, 1,932 investors €131,606 left
  • Expires TODAY
  • Target €402,000
  • Collateral value €886,437
  • LTV 45.4%
  • Projected LTV 59.0%
  • 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 Land development
  • Location Estonia

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