Promotional project No. 1/10
FG

Icon check Project is fully funded

Promotional project No. 1/10

€21,600.00

Make investment

€21,600.00

Raised of €21,600.00

Icon check Project is fully funded

Loan

  • Amount €21,600.00
  • Interest rate 13%
  • Term 15m
  • Collateral type House
  • LTV 54%

Description

Update from 22.04.2021 - The borrower has informed LendSecured about his intention to return the loan. Investors will receive principal and interest for the accrued period within a month.

Update from 05.01.2021 - Since conclusion of the contract, Borrower has had 4 payments according to the schedule and all of them were made on time.

After two stages of financing, borrower continues construction according to the plan. Building has been registered in the Land book, pulled in the heating, put in floors and windows and is currently finishing the gray mount of indoors. Construction terms have not changed and the object is expected to be commissioned by end of May 2021.


Project - Zaļā iela 6, Varkaļi, offers to make investments with the aim to finish construction works of the building.

The loan is secured with a first rank mortgage.

Funds raised will be used to continue the construction works in the real estate object located in the center of district of Babite, Varkali, which is 35 min drive from Riga. Total area of the building is 196.28 square meters, plus sauna house. Total costs of construction to completion will be EUR 54000.00 (including VAT, registration and loan fees, etc.). In the first fundraising round the amount to be raised is EUR 21600.00. At the beginning of December 2020, the second round of fundraising will be started with a goal raising EUR 32400.00. After second round of fundraising the total loan amount will be EUR 54000.00, which will make future max LTV 29 %. The market value of the private house after completion of construction is estimated at EUR 188000.00. Object is expected to be commissioned by end of May 2021.

Borrower is a self-employed person engaged in provision of construction services. Construction is done by IK "K.H.R", registration No. 43602027683. The borrower has experience in the construction of a residential house with a resale at a profit.

The borrower aims to repay the loan from the sale of the collateral or refinancing in banking sector.

Documents

  • Evaluation - Zaļā iela 6, Varkaļi, Salas pag., Babītes nov.
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Other borrower loans

Schedule

The loan repayment schedule is informative and can be subject to change.
Grace period - 5 day period after the designated payment date according to the payment schedule, when the loan is not considered to be delayed, because of the bank transfer period.
# Date Principal Interest Total Status
1 23.11.2020 €0.00 €234.00 €234.00 Icon check Paid
2 23.12.2020 €0.00 €234.00 €234.00 Icon check Paid
3 23.01.2021 €0.00 €234.00 €234.00 Icon check Paid
4 23.02.2021 €0.00 €234.00 €234.00 Icon check Paid
5 23.03.2021 €0.00 €234.00 €234.00 Icon check Paid
6 23.04.2021 €0.00 €234.00 €234.00 Icon check Paid
7 23.05.2021 €0.00 €234.00 €234.00 Icon check Paid
8 03.06.2021 €21,600.00 €78.00 €21,678.00 Icon check Paid

Borrower

  • Country Latvia, LV

Collateral

  • Country Latvia, LV
  • Collateral type House
  • Collateral value €40,000.00
  • LTV 54%
  • Mortgage first rank

Investment Breakdown

Investor Amount
LANDE co-finance €0.00
Anchor investments €1,452.00
Investor 1 €0.00
Investor 2 €0.00
Investor 3 €0.00
Investor 4 €0.00
Investor 5 €0.00
Investor 6 €0.00
Investor 7 €0.00
Investor 8 €0.00
Investor 9 €0.00
Investor 10 €0.00
Investor 11 €0.00
Investor 12 €0.00
Investor 13 €0.00
Investor 14 €0.00
Investor 15 €1,452.00
Investor 16 €0.00
Investor 17 €0.00
Investor 18 €0.00
Investor 19 €0.00
Investor 20 €0.00
Investor 21 €0.00
Investor 22 €0.00
Investor 23 €0.00
Investor 24 €0.00
Investor 25 €0.00
Investor 26 €0.00
Investor 27 €0.00
Investor 28 €0.00
Investor 29 €0.00
Investor 30 €0.00
Investor 31 €0.00
Investor 32 €0.00
Investor 33 €0.00
Investor 34 €0.00
Investor 35 €0.00
Investor 36 €0.00
Investor 37 €0.00
Investor 38 €0.00
Investor 39 €0.00
Investor 40 €0.00
Investor 41 €0.01
Investor 42 €0.00
Investor 43 €0.00
Investor 44 €0.00
Investor 45 €0.00
Investor 46 €0.00
Investor 47 €0.00
Investor 48 €0.00
Investor 49 €0.00
Investor 50 €0.00
Investor 51 €0.00
Investor 52 €0.00
Investor 53 €0.00
Investor 54 €0.00
Investor 55 €0.00
Investor 56 €0.00
Investor 57 €0.00
Investor 58 €0.00
Investor 59 €0.00
Investor 60 €0.00
Investor 61 €0.00
Investor 62 €0.00
Investor 63 €0.00
Investor 64 €0.00
Investor 65 €0.00
Investor 66 €0.00
Investor 67 €0.00
Investor 68 €0.00
Investor 69 €0.00
Investor 70 €0.00
Investor 71 €0.00
Investor 72 €0.00
Investor 73 €0.00
Totals €20,198.00

Latest comments

Did you structure the loan agreement as a leaseback agreement? Considering your history, you should publish the loan agreements on your site...
Peer Duck
25.08.2020
No, this deal isn't a leaseback. All the deals on LendSecured are mortgage loans. After the project will be fully funded, everyone will be able to see it on Public Land register (www.zemesgramata.lv) We will publish agreement drafts on web page soon.
LANDE
25.08.2020
Thanks for the information!
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26.08.2020
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