Riga, Latvia

“River Paradize” guest complex construction

Funded

“River Paradize” guest complex construction

Borrower:

SIA "River Paradise"

Type:

Real estate

Opens:

10 Jul 2019

Extended till:

-

Interest rate:

18.20% per annum

Loan period:

12 months

Funding target:

€ 400 000

Still need:

€ 0

Funded:

€ 400 000

Buyback:

5 % fee

Risk level:

Low

Collateral agent:

Monethera GROUP OÜ

Guarantees:

Pledged commercial assets and personal guarantees of the director

Repayment schedule:

Monthly on the 1st day of each month

SIA RIVER PARADISE, a real estate company that owns an exclusive piece of land in Jelgava. It is based on the bank of the Lielupe River, opposite the largest in the Baltics baroque palace. They are beginning construction of the “River Paradize” guest complex.

Construction’s plan is designed for 2 year and will consist of several stages.

The first stage will include the renovation of an old building in an exclusive guest house in a classic style, including 8 luxury rooms, a banquet hall, a restaurant and a SPA center, as well as infrastructure - the construction of a playground, driveways, landscape design, shore and berth for mooring boats.

The implementation of the first phase of the project will begin in July 2019 and will end in 12 months.