New season, new venture – VIA SMS Group never sleeps, so here comes the latest of company’s ventures and brand new investment opportunity for VIAINVEST community!
As Spain has always been on VIA SMS Group’s radar in terms of one business direction or another, the company has engaged in new partnership to enter the bridge lending segment by financing mortgage-backed non-performing real estate loans in Spain.
How does it work?
VIA SMS Group aims to offer VIAINVEST investors to participate in this venture by financing the acquisition of non-performing mortgage loans in Spain where liabilities are planned to be covered by realizing the pledge. The venture will be carried out in cooperation with ATLAN ADVANCE MANAGEMENT SL which is licensed as a real estate credit intermediary by the Bank of Spain. Collected funds will be later issued for the business execution to the special purpose venture GINAMSUN TRADE, S.L. Unipersonal, with Spanish tax identification number C.I.F B-67551242, registered in Spain and 100% owned by the VIA SMS Group.
What’s there for investors?
First business loan of this kind will be available for investments with the annual interest rate set to 12%, and backed with claim rights to the real estate collateral. One business loan will be tied to one collateral, so there will be multiple loans of such nature listed on the platform. Particular business loans are not pre-funded and without the Buyback Guarantee. Relationships between investors, VIA SMS Group and GINAMSUN TRADE, S.L. Unipersonal will be regulated by the Business loan agreement (Spain) accordingly.
What details I must take into account?
Each of mentioned business loans will have 30 days funding period (starting from the day when the loan is listed). If requested amount is collected within 30 days, interest rate will be calculated on the yearly basis and paid at the loan maturity together with the invested principal. If requested amount is not collected within the 30 days since the publishing date, invested principal is repaid to investors on 31st day and interest is not calculated for the collection period. If the business loan is closed at any moment sooner than 6 months after the publishing, interest amount is equal with six month period calculated interest and it is paid together with invested principal by the loan closing.
Explore all the benefits that come with this investment possibility by digging deeper into the loan profile. If you are an existing member of VIAINVEST investor community, you probably already know the drill – to include the business loan in your auto invest portfolio, go to your investor profile and adjust your portfolio by choosing Business loan as the loan type and VIA SMS Group RE Spain as the loan originator.
As always – we will be happy to answer all your questions. If something comes up, reach out to the Investor Support Service by e-mailing to [email protected]!
