How PATA Finance credit line works?

Receive credit line in a few quick steps and increase your properties value in future.

How PATA credit line works?

Find out availble credit line limit

PATA Finance appraises land and forest properties, prepares financial proposal

Steps

Receiving proposal

1 workday after cadastre info received we review and prepare proposal for available credit limit. From 1000 EUR/ha.

Extra appraisal of property

Appraisal of certified appraiser or PATA forest expert prepared appraisal. credit line limit up to 70% of appraised market value.

Contract preparation and signing

within 1 workday we will prepare contracts. Contract can be signed remotely with secure electronic signature or in person - Rīga, Cēsu street 14.

Mortgage securing

Credit line is secured with mortgage, it is registered in land registry

Steps

Plan notary visit

Pick a notary www.latvijasnotars.lv, reserve time for visit in person or remotely.

Notary meeting (in person or remotely)

Land owner signs mortgage registration agreement. Notary fees are paid by PATA Finance.

Registering mortgage in land registry

Securely electronically signed documents are submitted by notary. If signed in person then documents are submitted by land owner.

Notification from land registry

After receival of notification from land registry credit line becomes available in full.

Receiving funds

After mortgage registration funds from credit line are available immediately at any time and amount you need.

Steps

Fund amount

Pick any amount within agreed upon limit of credit line.

Apply for payout

Apply for payout via web portal or call your PATA Finance contact person.

Funds in borrowers account

Asked funds are paid out within 1-3 workdays.

Return of funds

Schedule of principal repayment is decided by the customer, interest for used credit line is invoiced monthly.

Steps

Principal repayment

Credit line principal can be returned partially or fully at any time by bank transfer to PATA Finance account

Monthly interest payment

Once a month PATA Finance will send interest invoice to e-mail with payment terms. If invoice is not paid within payment time then it is paid form available credit limit.

Repeated use of funds

Funds can be used repeatedly.

How it happens?

Credit line usage examples

Property to secure credit line

Guaranteed credit limit

from € 800 / ha

Area

10 ha

Credit line for property

€8’000

Forest

Guaranteed credit limit

no € 2’500 / ha

Area

5 ha

Credit line for property

€12’500

Clearing

Guaranteed credit limit

from € 800 / ha

Area

10 ha

Credit line for property

€ 8’000

Agricultural land

Guaranteed credit limit

from € 1’200 / ha

Area

20 ha

Credit line for property

€ 24’000