We present a new staged financing project “Poilsio namai “Mezlici“, in Latvia. The raised funds will be used for the development of the country home quarter. The amount to be raised during the first financing stage is EUR 25,000.

About the project:
The project owner is developing a new camping houses project in Latvia. In total, project owner will build 4 houses by the lake. The houses under construction will be 44 square meters, each of which will have a terrace of 15 square meters. The construction costs of the whole project amount to 145,000 euros. For this project, the project owner has received EU support from which the costs of this loan will be covered.

Progress of the project:
The first two houses in the project are currently under construction. In the near future, windows and a roof will be installed in these houses. Once all four houses will be finished, they will be rented for short-term rent.

As collateral, investors are pledged real estate with a primary mortgage:
To protect the interests of investors, a 50.85 ares plot of land is pledged at Mezlici, Aglonas pagasts, Preilu novads, LV-5304. The houses being built and planned to be built on the plots will also be pledged to investors. According to an independent real estate appraiser, the value of real estate pledged to investors is currently EUR 56,000.

Maximum planned amount of funding for the project: EUR 50,000. The project is funded based on the current mortgage valuation until it reaches the maximum LTV set. When maximum LTV is reached, a new valuation of the property will be required and further project funding stages will be announced and collected only if the maximum LTV set is not exceeded.

Interest by investment amount:
- From EUR 100 to EUR 999 - 8%
- From EUR 1 000 - 9%
Important: separately made investments are not aggregated.

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