Descripton

Introduction

Purpose of funding

• For building renovation and installation works.

Loan protection

• Pledge of the building with a primary mortgage. 

• Guarantee of the company's manager and shareholder.

Project investment return and interest payment

• Start of funding collection on the Nordstreet platform: 2021-01-22

• Investment from 100 €, for the first investment from 50 €.

• Annual investment return of the project from 10.5% (investment conditions are described in more detail in the Detailed information section)

• Interest on the loan amount is calculated from the date (inclusive) on which the loan amount is paid to the Borrower's Paysera account or such other account (or accounts) as the Borrower notifies the Operator in writing before the disbursement of the loan amount.

• Loan term: 18 months

• Interest is paid monthly. The loan is repaid at or before maturity.

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, financing may be considered successful upon completion of a smaller amount, project financing may be divided into several stages and/or the project financing period 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 term on its website together with other information about the project.

• By investing in a project, financiers acquire claim rights. Nordstreet may make it possible to transfer these claim rights to other users of the platform in the Secondary Market following the Terms of Use.

• The activities of UAB Nordstreet are supervised by the Bank of Lithuania and included in the Public List of Operators of Concentrated Financing Platforms administered by the Bank of Lithuania.

Business loan terms

The object of the loan

The object of the loan is the property owned by the company, which will be renovated and renewed according to the needs of the company.

To ensure the need for financing, the Developer pledges real estate located at Pušaloto str. 108, Panevėžys City Municipality, Lithuania.

- Building, warehouse (un. nr. 2790-0002: 8187) with a total area of ​​2807.75 m2;

Loan terms

Loan amount: 220 000 € (1st stage)

Loan term: 18 months

Minimum loan term: 6 months

Value of mortgaged property: 687 000 €

LTV (Loan-to-value ratio): 49% (1 stage 32%)

Project risk: B (medium)

Loan protection: pledging property with a primary mortgage

Interest:

When investing from 100 € - interest 10.5%

When investing from 500 € - interest 10.75%

When investing from 1 000 € - interest 11%

When investing from 5 000 € - interest 11.25%

When investing from 10 000 € - interest 11.5%

When investing from 15 000 € - interest 11.75%

When investing from 25 000 € - interest 12%

Collateral information:

Address of the pledged property: Pušaloto str. 108, Panevėžys City Municipality, Lithuania

Real estate type: non-residential - storage building

Value of mortgaged property: 687 000 €

Documentation: Property Valuation Report.

Report preparation date: January 20. 2021

Evaluator: LTD Vertinimo partnering

Mortgage: A first-rate mortgage

Borrower

Legal entity "Plastex LT", which carries out and administers real estate activities, real estate development and real estate rental for itself and its clients, in Panevėžys.

The company employs a manager who is well acquainted with his work and the specifics of real estate and works with the best representatives of his class in Panevėžys.

2020 The company successfully acquired several real estate objects, its turnover amounted to more than EUR 0.48 million, profit more than EUR 0.4 million. The total assets of the company amounted to more than EUR 0.5 million. This year, the company plans to acquire several new projects that will be prepared for rent and sale.

Loan protection collateral

Purpose of a business loan

For this phase, funding of 220 000 € is required for the renovation and refurbishment of the building.

Loan collateral

Mortgage of the first line of existing real estate - Mortgage. The loan will be repaid after the sale of all / part of the pledged property, from the sale of the company's development assets, current and future profits or after refinancing the loan.

Bail and shareholder guarantee.

Investment risk: B (medium)

LTV: 49% (1 stage 32%)

Mortgage property: building (un. nr. 2790-0002: 8187) with a total area of ​​2807.75 m, address Pušaloto str.108, Panevėžys, Lithuania.

Value of mortgaged property: 687 000 €

Interest:

When investing from 100 € - interest 10.5%

When investing from 500 € - interest 10.75%

When investing from 1 000 € - interest 11%

When investing from 5 000 € - interest 11.25%

When investing from 10 000 € - interest 11.5%

When investing from 15 000 € - interest 11.75%

When investing from 25 000 € - interest 12%

Loan term

18 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 18 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.

Company loan repayment period

Estimated start date of the loan: 2021 02 03

Expected repayment date of the loan: 2021 12 01 - 2022 02 01

Strengths and risks

SWOT analysis of the project beneficiary:

Strengths - First lien on existing real estate - Mortgage.

                    - Guarantee of the manager and shareholder

Weaknesses - The mortgaged property will be renovated.

Options - The borrower's expected average annual interest rate payable is 10.5 - 12%.

Threats - The current economic situation is unclear.