Land

Land

Originator: estateguru

Elmo Rent 2.0 bridge loan

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Product Description

  • The capital is raised to expand the company's business activities.
  • As a loan collateral, the borrower offers two properties with former barrack buildings, in the Pakri Research Park.
  • One of the borrower's partner's, Enn Laansoo Jr., has previously raised capital through the EstateGuru platform in connection with the "PAKRI Kivi 12 loan", which has already been successfully repaid to investors with accrued interest (€ 490,000 + interest).
  • The loan will be returned by refinancing with a bank loan within 12 months.
  • The loan interest payments are serviced from the income of other business activities and from rental income of electric cars renting activities (€ 15,000 – € 20,000 / month)
  • Borrower's business partner is providing personal guarantee in full mortgage amount. 
  • EstateGuru security agent will have the 2. rank mortgage on behalf of the lenders.

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Funded: 75 000 €
Funded percent: 100.0%

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