The Company was established in 2005 and is an experienced producer of sawn birch timber. Besides birch sawn wood the Company also produces heating pellets and briquettes. The factory where the Company operates is owned by a related company. The factory is equipped with all necessary machinery to provide a full cycle of timber processing from sorting of round wood to woodwork and lamination workshop. Export forms up to 95% of the total revenue of the Company. Currently, the Company is seeking working capital financing of EUR 258,963 for 18 months period to settle with suppliers for timber.  The loan will carry a 12% annual interest rate (1% monthly) with monthly interest payments and principal repayment starting from the seventh month. The loan is secured with a residential real estate property in the suburb of Riga finished by 90% with a current value of EUR 375,000 and pledge to the factory property consisting of the land plot with the total area of 6.65 hectares and 10 buildings. In addition to the pledge, a personal guarantee from the owner is provided.

The repayment of the loan is based on the sale of pledged residential property or the cash flow of the Company.