We present the second stage of the stage financing project “Zirgynas”. The funds for this phase will be used to continue the improvement of the building and the management of the environment. The amount to be raised is EUR 35 000.
The aim of the project:
The owner of the project is currently installing a children’s playground in Zirgynas, replacing the windows in a part of the building, installing a separate stand for the spectators in the manege, arranging the ceiling of the manege and laying blocks. After the first stage, the project owner ordered manege windows, prepared wooden walls to be fastened at the end of the construction work, installed an air-water system, built a couple of outbuildings, concreted the stables and covered the roof of one building. The funds of this stage will be allocated by the project owner to continue the renovation work of the building. This loan will be covered from the company’s operating income: riding lessons, manege rent, stall rent, competition, stud farm subscription. Estimated revenue is EUR 93 840 per year.
To secure the interests of investors, real estate is pledged with a primary mortgage:
To secure the interests of investors 771.98 square meters of administrative building, 1,890.71 square meters of riding arena, 32 acres of commercial land and 31.98 acres of land lease are pledged at Zirgyno st. 4 and 6, Triobiskiu village, Marijampole district. According to an independent real estate appraiser, the value of the mortgaged real estate is EUR 283 000.
Maximum planned amount of funding for the project: EUR 70 000. 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. LTV at this stage – 25%.
Interest by investment amount:
– From 100 EUR to 499 EUR – 8%
– From 500 EUR to 999 EUR – 8,5%
– From 1 000 EUR – 9%
Important: investments made separately 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.