Project description

Bridging loan for a development company owned by a developer with whom Civislend has successfully completed four projects. The developer requests a loan to develop a residential project of 30 high-rise homes, 31 storage rooms and 39 parking spaces located at Avenida de Galicia 33-35. The obtaining of bank financing is being negotiated with Liberbank that will allow the first drawdown of 50% of the asset value for the cancellation of the loan from Civislend investors with the entry of the bank's promoter loan.

Key details of the loan

Purpose of the loanPurchase of 50% of the land

Guarantee

• Pledge of the social shares: the social shares of the promoter company are pledged in favour of the investors who are going to invest in the project.

• First demand guarantee from a group company with sufficient own funds.

• Mortgage promise and irrevocable power of attorney to constitute a mortgage if necessary

LOAN AMORTIZATION

Although the total duration of the loan is twelve months, the developer can make a full amortization before month nine from the beginning, although he will have to pay the interest corresponding to the full nine months

If you make an early repayment after month nine, it can only be total. Amortization after month nine will only include ordinary interest accrued to date

Risks

The specific risks of this project can be found in the documents section.

From the moment an investor formalizes his participation in a project, he is accepting the risk and return of this investment. The loans present the risk of not obtaining the expected return, lack of liquidity, the possibility of dilution or even loss of the principal of the loan.

At Civislend we work to minimize the risks of investors registered on our platform, exhaustively analyzing and filtering projects so that we only publish projects that meet demanding quality and solvency criteria that maximize compliance with commitments with investors.

Civislend functions as a meeting point between promoters and investors, but is not responsible for the success or failure of a project, or for the profitability obtained by the investor.

Before publishing the promoters' proposals, our team of professionals rigorously and exhaustively evaluates each of the projects presented to minimize the risks for investors. For added security, additional review of projects is also carried out by external professionals and independent from Civislend.

The participatory financing project is not subject to authorization or supervision by the National Securities Market Commission or by the Bank of Spain and the information provided by the promoter has not been reviewed by them.

The invested capital is not guaranteed by the investment guarantee fund or by the deposit guarantee fund.

Promoter

Business name Progesde Gestión, SL

CIF B87483004

Direction Avenida Quitapesares 33, Nave16 28670. Villaviciosa de Odón (Madrid) Spain

Administration organ Solidarity administrators

Actual holder

Business name Progesde Gestión, SL

CIF B87483004

Direction Avenida Quitapesares 33, Nave16 28670. Villaviciosa de Odón (Madrid) Spain

Relationship between the promoter and the beneficial owner

Progesde Gestión, SL is a company owned 50% by GESTIONES INTEGRALES DEL CANTÁBRICO, SL and 50% by GESURBE PROJECT, SL