Skynimų str. 2, Panevezys, Lithuania

 Business loan
Panevezys, Lithuania
Status
Done
80 000 € (100%)
80 000 €
Term: 12 months
Interest payment schedule: Monthly
11%
Annual yield
55%
LTV
First
Mortgage rank
Yes
EVOEstate skin in the game

EvoEstate comment:

This is skin in the game project. Our analysis say that in case of default this property could be sold for 100.000€ in a medium term. The loan is 80k and valuation 145k €

Nordstreet description:

Introduction

Nordstreet guarantees safe investment:

  • The loan-to-value (LTV) ratio of the project will not exceed the LTV ratio provided in the project description if the project is funded in stages;
  • If the required financing amount is not collected before the start of the project, all investments will be returned to the investees. If borrower request for a smaller amount of the loan grant - funding can be considered successful completion of entering a lower amount.

Purpose of financing:

  • The purchase of buildings and building renovation

Loan protection:

  • Pledge of land and building  on primary mortgage

Project return on investment and interest payment

  • Investing from 100 €
  • Annual investment return on the project from 11% (investment details are described in section Detailed information)
  • Interest of the loan is calculated from the end date of the auction and is paid monthly.

Detailed Information

Object of the loan

The object of the loan is real estate used for the operation of the company, which needs financing - to finance the purchase of the building located on the site, its renovation and the internal workflow. The company needs financing for business development. The company is engaged in trading of chemical raw materials.

This project is raising additional funding for a project already successfully funded by the Nordstreet platform at Vilties St. 20 in Nemekstė, Utena district, by pledging other additional assets.

The developer pledges the available real estate located at Skynimų str. 2, Panevezys. The mortgaged property consists of own plot of 0.1499 ha, residential building. The total area of the building is 179.94 sq.m. m.

Loan Terms

  • Loan amount: € 80 000
  • Loan term: 12 months
  • Minimum loan term: 2 months
  • Value of the mortgaged property: € 145 000
  • LTV (Loan-to-value ratio):  55%
  • Project risk: B
  • Loan Protection:  Primary order Mortgage

Interest - annual return on investument

  • Investing from 100 € - interest 10,5% 
  • Investing  from 2,500 € - interest 11.5%
  • Investing from 7,500 € - interest 12%
  • Investing from 20,000 € -  interest 12.5%

Loan protection Information

The mortgaged property is property and land owned by it and the property is valued at € 145,000, according to the report.

  • Address of the mortgaged property: Skynimų str. 2, Panevezys, Lithuania
  • Property type: buildings and land
  • Property type: 1) plot of land / other / residential areas, 2) building - residential use,
  • Value of the mortgaged property: € 145 000
  • Documentation: Report of the Property Valuation 
  • Date of report: 1st of October. 2019
  • Assessor: UAB Verslavita
  • Mortgage: A first line mortgage

Project Developers

The project is sponsored by JSC "Norbalta", whose owners and shareholders administer the company's real estate. The company's current activities include overseeing, leasing, operating and administering real estate.

JSC Norbalta has a great deal of experience in trade, which is evidenced by the turnover achieved. By acquiring the premises, the company will reduce its costs and engage in on-site production of parts.

Turnover in 2017 was EUR 1.08 million, and already in 2018 the company was able to increase its turnover to EUR 6.5 million. For further development and growth, the company plans to acquire the said premises and adapt them to its own needs.

Currently, UAB Norbalta is preparing the material and will develop a joint project "Eksperimentas LT" with KTU University scientists to receive support for this project, which will start in the fourth quarter of this year.

JSC Norbalta has already successfully secured financing for Nordstreet platform in another project!

Finance

Loan

The amount of funding required is € 80,000, which will be allocated to the building at Vilties str. 20, Nemekščiai for renovation and renovation.

Loan collateral

First-line mortgage on existing real estate - Mortgage.

The value of the property is € 145 000. 

Investment risk: B

LTV:  55%

Mortgaged property

The value of the pledged property is 145 000 €

1) 0,1499 sq.m land 

2) 179,94 sq.m building

 

Interest on the loan is calculated from the end date of the auction and is paid monthly.

Loan Period

Loan term: 12 months (with option to repay earlier, but not earlier than 2 months).

If the Borrower repays the Loan Amount or part thereof less than 2 months after the due date of 12 months, the Borrower undertakes to pay interest to the Lender for a period of 2 months. After a period of 2 months, the Borrower may repay the loan at no additional charge.

Loan repayment period

Expected loan start date: 2019 09 18

Expected loan repayment date: 2020 06 18 - 2020 09 18

 

 

Project originated by:
Status
Done
80 000 € (100%)
80 000 €
Term: 12 months
Interest payment schedule: Monthly
11%
Annual yield
55%
LTV
First
Mortgage rank
Yes
EVOEstate skin in the game