It was the first German loan for Max Crowdfund and how quickly did it go!
In addition to investment opportunities in the Netherlands, Belgium and the United Kingdom, Max Crowdfund offered their first loan in Germany, which is was a great success. The loan enjoyed great interest and was fully subscribed within the first six hours after going live on the platform on the 22nd of June.
The project developer was looking to raise the necessary funds to purchase and finish renovations of the characteristic property in Gelsenkirchen, Germany. The developer is highly experienced and has previously purchased, renovated and sold over 15 buildings successfully.
The target amount of €550.000 has a term of 15 months, with an interest of 8% per year, which will be paid out monthly. The loan is backed by a first charge on two properties and a personal guarantee of the fundraiser. This amounts to a Loan To Value (LTV) of 73.3%. For this loan, the risk class is B, which means that this is a low-risk loan.
The first German loan for Max Crowdfund was a great success!
More loans are coming soon!
Behind the scenes, we are busy reviewing loans. As soon as they have passed our due diligence, they will be published on the platform for our investors.
Our due diligence process is detailed, which takes time. We require a valuation report, which takes longer than expected. This is because surveyors are very occupied.
Stay tuned for new investment opportunities and other exciting news, and don’t forget to follow our social media channels!
Written by: Julia van der Kooij