Object The mortgaged property is a 3498 sq.metres large land plot in Berģi – an individual residential building area near the Riga city border. Berģi is a district with high residential value and close proximity to the capital city and the beach. Only 10-minute drive allows reaching the centre of Riga. The area has been particularly active in the construction and reconstruction of residential buildings, turning it into a family-friendly neighbourhood and developing its infrastructure. The loan target The loan is secured by the mortgaged property and will be used to increase the operating capital of the borrower’s company. Amount of the loan The loan amount will comprise EUR 31 500 and it will carry a 12% annual interest rate. Independent valuation of the property 58 500 EUR – current value of the land plot Security 1st rank mortgage Member of the Board of the Borrower is providing a personal guarantee in full mortgage amount. Repayment term 12 months Repayment of the loan The principal payment will be paid out at the end of the loan term while the accrued interest will be paid out every month.
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