The Company was established in 2014 and it produces granite, quartz, and ceramic countertops in Estonia. Around 80% of all the goods produced by the Company are exported to such countries as Norway, Sweden, Denmark, Finland, Germany, the UK, the USA, and others. The Company's clientele is well-diversified and includes both business and private clients in different geographies. Although the Company has taken over the current business operations in 2021, the acquired business has been operating in the industry since 1999.

In late 2021, the Company obtained financing from Capitalia to supply inventory and to refinance another more expensive loan. The financing was planned to be refinanced by a bank in early 2023; however, the Company was not able to refinance the loan to the bank yet since 2022 was the first full year of operations. Therefore, the Company is seeking EUR 780,000 financing for 15 months to refinance the outstanding Capitalia loan. The loan will carry a 13.68% annual interest rate (1.14% monthly). The loan will have only interest payments for 11 months followed by 3 principal payments of EUR 25,000 on the 12th, 13th, and 14th months. The remaining principal of EUR 705,000 is to be repaid at the end of the loan term by refinancing to a commercial bank.

As collateral, a mortgage on a premium residential property approx 40km from Tallinn, worth EUR 1,2M, based on the Pindi Kinnisvara appraisal report is provided. The resulting loan-to-value is 65%. The loan will be issued to a separate company that owns the collateral real estate and the Company will provide its guarantee for the loan and service the monthly payments as the guarantor for the liabilities.

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

• The loan will be secured with a mortgage on a premium residential property worth EUR 1,2M and with an LTV of 65%.
• The Company is an existing client of Capitalia with an excellent payment discipline.
• The Company has a well-diversified clientele in different geographies.
• The business operates in the industry for more than 20 years.
• The Company’s owner has a strong background and experience of more than 20 years managing equity investments (previously a partner at Askembla private equity fund), financial advisory as well as managing his own business projects.