EvoEstate comment

Due to the fact that this is a business loan, the project won't have an EvoEstate Rating. The rating from the originator for this project is C.

Detail Descripton

Introduction

Purpose of funding

• Pledge of company-owned assets to increase working capital.

Loan protection

• Pledge of premises with a primary mortgage.

Project investment return and interest payment

• Start of fundraising on the Nordstreet platform: 2021-03-30

• Investment from 100 €.

• Annual investment return of the project from 11.5% (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 to such other account (or accounts) as the Borrower notifies the Operator in writing prior to the disbursement of the Loan amount.

• Loan term: 36 months

• Interest is paid monthly. Part of the loan is paid monthly.

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 in accordance with 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

Object of the loan

The object of the loan is the property belonging to the company, which will be pledged to secure the company's loan.

To ensure the need for financing, the Developer pledges real estate located at Pramonės st. 37-1, Alytus City Municipality, Lithuania.

-Non-residential premises (industrial premises, unique number 4400-3201-3857: 5802) with a total area of ​​955.03 sq. M. m.

Loan terms

Loan amount: € 25 000

Loan term: 36 months

Minimum loan term: 6 months

Value of mortgaged property: € 167 000

LTV (Loan-to-value ratio): 15%

Project risk: C (higher)

Loan protection: pledging property with a primary mortgage

Interest:

When investing from 100 € - interest 11.5%

When investing from 500 € - interest 11.75%

When investing from 1,000 € - interest 12%

Collateral information:

Address of the pledged property: Pramonės st. 37-1, Alytus City Municipality, Lithuania

Type of real estate: non-residential - industrial premises

Value of mortgaged property: € 167 000

Documentation: Property Valuation Report.

Report preparation date: February 1st 2021

Evaluator: UAB Kovertas

Mortgage: A first-rate mortgage

Borrower

Eg Doors, a legal entity engaged in the production and installation of exclusive glass doors, aluminum windows, doors, facades, aluminum-glass structures. For the production of products, the company has a 432 m2 workshop and the company's administration is located here.

2020 The company successfully completed several projects in 2006, its turnover amounted to more than EUR 0.3 million, and its profit amounted to slightly more than EUR 25 000. The total assets of the company amounted to more than EUR 0.48 million.

More about the company: https://www.egdoors.lt/

Loan protection collateral

Purpose of a business loan

For this stage, an amount of € 25 000 is needed for funding to increase the company's working capital.

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.

Investment risk: C (higher)

LTV: 15%

Pledged property: Non-residential premises (industrial premises, unique number 4400-3201-3857: 5802), with a total area of ​​955.03 m, at the address Pramonės str.37-1, Alytus, Lithuania.

Value of mortgaged property: € 167 000

Interest:

When investing from 100 € - interest 11.5%

When investing from 500 € - interest 11.75%

When investing from 1 000 € - interest 12%

Loan term

36 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 part thereof earlier than 6 months after the due date of 36 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 04 10

Expected repayment date of the loan: 2022 12 01 - 2023 02 01

Strengths and risks

SWOT analysis of the project beneficiary:

Strengths - First lien on existing real estate - Mortgage.

Weaknesses - The Borrower's manager associated with a bankrupt company.

Opportunities - The borrower's expected average annual interest rate payable is 11.5 - 12%.

Threats - The current economic situation is unclear, the borrower has experienced delays and legal proceedings.