The company was founded in 2018 and owns commercial premises in Riga, which are currently being rented out as well as a residential real estate property in Jūrmala region for short-term rental purposes. Previously, the commercial premises were used by the company itself for the production and sale of baked goods, but in early 2024, the bakery network was sold to a well-known grocery retailer. 

The company is eager to expand the property management business and offer short-term rentals. Recently, it acquired a residential property in the Jūrmala region and holds pre-emption rights on additional land units near the property. The company plans to gradually acquire more land and place modular buildings there to expand a short-term rental business. 

Therefore, the Company is seeking EUR 103,600 financing for 24 months to buy additional land units to develop a short-term rental business. Part of the loan will be used to cover the outstanding liabilities against the previous owner of the collateral property to make it available for pledging. The loan will carry a 11.64% annual interest rate (0.97% monthly). The Company will adhere to the following repayment schedule: 24 months of monthly principal repayment  according to a 48-month schedule and a  payment of EUR 63,209 at the end of the loan term. The project risk rate is B (83 out of 100).

The loan will be secured with a mortgage on commercial premises in Rīga with a market value of EUR 313,000 (valuation by Colliers International in August, 2024) with a loan to value (LTV) ratio of 33%, while the shareholder will provide her personal guarantee too.

There are a number of factors that make lending to the Company an attractive opportunity and the main highlights are as follows:

• The Company has a strong equity-to-assets ratio of 77%.
• The Company has a 5-year track record of working with profits.
• The loan will be secured with a mortgage on commercial premises in Rīga with a market value of EUR 313,000 and an LTV ratio of 33%.
• In addition to the collateral, the Company's shareholder will provide her personal guarantee.