New Belgium Loan Is Live

New Belgium Loan Is Live

A new loan for a renovation project of property in Antwerp, Belgium, is published on the website of Max Crowdfund and is going live on Wednesday the 17th of March at 10.00 CET for all users of our platform. The loan is backed by a first charge on the mortgage and additional securities.

Cube Investment is looking to finance the purchase and renovation of a complete mansion consisting of 5 apartments located 200 meters from Antwerp’s central station. The property can be purchased significantly below its current market value. The apartments are currently rented out, and the property requires maintenance.

Some investors might recognize Cube Investments as the fundraiser of two previously successfully funded loans. These are the Fuutstraat in Rotterdam and the Trembleystraat in the Hague.

The details

The plan is to completely renovate the property, giving up one of the current apartments to serve as storage space for the other apartments. Financing of € 975,000 is sought for the purchase and complete renovation of the property with a minimum of € 750,000 to cover the purchase and minimum work required.

A first rank mortgage of €1.350,000, including 35% execution costs, will be established on behalf of investors to secure the loan. Both personal holdings behind Cube Investment offer additional securities in the form of a business guarantee on the loan of €100,000 each. These business guarantees are partly material. The Loan To Value (LTV) is 62.9%.

The target amount of €975.000 has a term of 20 months. The interest per annum is 8% and will be paid out every month. For this loan, the risk class is C, which means that this is a relatively low-risk loan.

For now, this loan is only available for relatives and business partners of the fundraiser. This is the so-called “private round.”

Note: Do not forget to mention the correct reference with the investment.

New Belgium Loan Is Live
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 and this takes longer than expected. This is due to the fact that surveyors are very occupied.

Stay tuned for new investment opportunities and other exciting news, and don’t forget to follow our social media channels!

The MCF Tokens Are Available Again

We previously announced that the old MPG tokens were to be swapped with new MCF tokens in line with the new controlled child chain we developed with Jelurida. Unfortunately, we don’t have any indication of when the new child chain will be launched. We can tell you that the MCF Tokens are once again visible in your account as of now.

The balance is based on the number of tokens you held on the 2nd of August in 2020 on the platform. All balances held after this date on or off the platform will be added to the balance once proof of ownership can be determined and old MPG tokens are swapped for the new MCF tokens.

Please bear in mind that these MCF tokens are controlled assets and thus non-tradable at this stage.

Written by: Julia van der Kooij