Update from the originator:
The loan gathering phase was successful and the interest schedule is updated correctly.
Nordstreet takes these measures to guarantee a safe investment
The loan to value ratio of the project will not exceed the LTV ratio provided in the project description, including in cases when the project will be financed in stages.
If the required amount of funding is not collected before the start of the project, all investments will be returned to the invested persons. Upon application by the Borrower, the financing may be considered to have been successfully completed with a smaller amount, the financing of the project may be divided into several stages and / or the financing period of the project may be extended. In these cases, Nordstreet informs the funders and publishes the information on the completion of the project with a smaller amount, the division of the project funding into several stages or the extension of the project funding period on its website together with other information about the project.
The activities of UAB Nordstreet are controlled by the Bank of Lithuania and included in the Public List of Operators of Concentrated Financing Platforms administered by the Bank of Lithuania.
Purpose of funding
Loan protection
Project investment return and interest payment
Object of the loan
The object of the loan is a planned acquisition of assets that will be prepared as a general investment project for sale to investors.
To ensure the need for financing, the Developer pledges the acquired real estate located at Lelevelio str. 4, Vilnius City Municipality.
- Residential premises (residential use) 4400-1976-2582: 8826 with a total area of 75.50 m2;
- Administrative premises (non-residential) 4400-1976-2671: 8831 with a total area of 114.57 m2;
Loan terms
Loan amount: € 284,000
Loan term: 12 months
Minimum loan term: 6 months
Value of mortgaged property: € 406,000
LTV (Loan-to-value ratio): 70%
Project risk: B (medium)
Loan protection: pledging property with a primary mortgage
Collateral information:
Legal entity "Somnus LT", which carries out and administers the lease and sale of its real estate in Vilnius.
The team has an experienced manager, good knowledge of their work and the specifics of real estate, and has been in the real estate rental and sales business for more than 3 years. The company's balance sheet assets amount to more than EUR 0.5 million, and the years of operation in 2018 and 2019 were profitable.
Purpose of a business loan
Financing requires an amount of € 284,000 to be used for the purchase of Mortgage Premises, which will be sold as investment property.
Loan collateral
Mortgage of the first line of existing real estate - Mortgage. The loan will be repaid from the sale of the company's development assets, current and future profits or after refinancing the loan.
Investment risk: B (medium)
LTV: 70%
Mortgaged property: 190.07 m2 of total area of residential and non-residential premises, address Lelevelio str.4, Vilnius.
Value of mortgaged property: € 406,000
Interest: 12%
Loan term
12 months (with the possibility of repayment earlier, but not earlier than after a period of 6 months).
If the Borrower repays the Loan amount or a part thereof earlier than 6 months after the due date of 12 months, it undertakes to pay interest to the Lender for a period of 6 months. After a period of 6 months, the Borrower may repay the loan (together with the applicable interest) without any additional fees.
By investing in a project, financiers acquire claim rights. Nordstreet does not make it possible to transfer these acquired claim rights to other persons on its platform.
Company loan repayment period
Estimated start date of the loan: 2020 08 31
Expected repayment date of the loan: 2021 04 01 - 2021 06 01
Date | Status | Late | Assignment date |
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![]() | Paid | No | 10 November 2020, 18:19 |
![]() | Paid | No | 10 December 2020, 19:42 |
![]() | Paid | No | 07 January 2021, 00:00 |
![]() | Paid | No | 05 February 2021, 00:00 |
![]() | Paid | No | 04 March 2021, 00:00 |
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Amount €
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