Land

Land

Originator: estateguru

Uustalukodu bridge loan – 1.stage

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Product Description

  • The loan is used to release equity for the period of the sale, in order to increase the company's working capital and to leverage the sales process of the development project.
  • As collateral for the loan, the borrower offers 39 undeveloped residential land plots, consisting of 4 land plots of terraced houses, 7 semi-detached and 28 single family house plots in Assaku village, Harju county.
  • The developer plans to sell single-family house plots and, based on their long-term experience, to develop terraced and semi-detached houses by themselves.
  • The borrower has extensive experience in real estate development.
  • The loan is returned from the sale of the collateral plots or from the other incoming revenues of the company in 12 months term.
  • The Borrower's Board Member also provides a personal guarantee to the entire mortgage amount.
  • EstateGuru security agent will have the 1.rank mortgage on behalf of the lenders

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Funded: 250 000 €
Funded percent: 100.0%

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