Tulbi tee 3 (III), Viimsi

Crowdestate's investors have granted a loan in the total amount of EUR 530,000 for the working capital of AS Enko, secured by 1st mortgage on Tulbi tee 3 and adjacent 13 land plots. Now the Sponsor offers an opportunity to refinance the previous loan and grant an additional EUR 105,000. Total amount of the running campaign is EUR 635,000 (minimum goal EUR 530,000). 

Loan period is up to 24 months, interest rate is 10% p.a. and internal rate of return (IRR) of the loan with quarterly interest payments is 10.4%. The market value of the collateral is EUR 1,110,000 and LTV is 57% (risk per m² is EUR 14.2). 

The loan will be secured by a first-rank mortgage on Tulbi tee 3 property (21,444 m², commercial land) and adjacent 12 residential and transportation land plots (23,150 m²). 

The loan will be repaid from the sale of properties or by refinancing. 

The Sponsor has paid the quarterly interest payments of the previous loan on time.