• The owner of the project is developing a block of 43 duplexes in Vilnius district. The developer is building A+ economy class housing for young families;
• The location of the property is very attractive from a residential point of view, which is partially built up with single-family houses, the development has asphalted roads and street lighting;
• The owner of the project has already invested approximately EUR 1 400 000 of his own funds in the acquisition of the land plots;
• The full amount of the loan is guaranteed by Somaris UAB. The guarantor company has been in the construction sector for about 5 years and has developed over 3 000 sq. m of duplex and single-family houses.  

About the project owner:
The company has been in business for 8 years, dealing with logistics, brokerage services, construction of single/double-family houses. Profitus has financed 1 project "Namai Baliskiu pusyne", the project was successfully completed and the investors were paid on time.

About the project:
The owner of the project is developing a residential estate in Vilnius district, in Bitininku st. The developer has acquired 50 plots of land on which it intends to develop 43 semi-detached dwellings. The flats in the semi-detached houses are planned to be 103 sq. m. each, with a total project area of approximately 8 858 sq. m. The owner of the project will furnish the semi-detached houses to partial completion and sell them. The first phase of construction will consist of 12 semi-detached houses. The estimated sales revenue for the whole project is EUR 9 700 000 excluding VAT. The loan will be covered by the sales proceeds of the project and the interest will be paid to the investors out of the operating income of the project owner. 

The maximum financed amount: EUR 5 000 000. The project is financed on the basis of the current valuation of the collateral until it reaches the established maximum loan-to-value ratio of 70% LTV. Once the maximum LTV has been reached, a new valuation of the property will have to be carried out and further rounds of financing for the Project will only be advertised and collected if the set maximum LTV is not exceeded.

Interest by investment amount:
– From 100 EUR to 499 EUR – 7.50%
– From 500 EUR to 999 EUR – 8.0%
– From 1 000 EUR to 3 499 EUR – 8.50%
– From 3 500 EUR to 9 999 EUR – 9.0%
– From 10 000 EUR – 9.50%
Important: investments made separately are not aggregated and cannot be pooled.

We plan to raise the amount within 7 days, with the option of extending it to 21 days if we do not raise funds.