Loan 45230-01 - Business Loan Lithuania

Loan Details

Loan Type Business Loan
Loan Amount € 10 000.00
Remaining Principal € 9 334.25
Interest Rate (12.2%)
Initial LTV -
Initial Term 12 m. 5 d.
Remaining Term Late
Amortization Method Full
Listing Date 14.01.2016
Date of Issue 11.01.2016
Closing Date 15.01.2017
Status Default
Loan Originator Capitalia
  • Borrower and Collateral
  • Payment Schedule
  • Investment Breakdown
  • Debt Collection
  • Borrower and Collateral Details

    Loan PurposeWorking capital
    Business sectorManufacture of wood and of products of wood and cork, except furniture; manufacture of articles of straw and plaiting materials
    DescriptionCompany has two main fields of operations. One is firewood production and export to Europe and Scandinavia. Second activity is 4D notebooks production and wholesale trade. Company sells notebooks for scholars with QR code on the back, when scanned with smartphone app animations appear around it. Financing was attracted to purchase wood drying premises and equipment. Notebooks are sold through major retail chains.
    Risk category B
    Estimated annual default rate 1.2%
    Personal guarantee yes
    Country Lithuania
  • DatePrincipal Interest TotalPayment ReceivedPayment DateStatus
    15.02.2016 € 697.97 € 108.44 € 806.41 € 774.20 Late
    15.03.2016 € 720.08 € 91.42 € 811.50 € 91.42 Late
    15.04.2016 € 742.88 € 90.16 € 833.04 € 90.16 Late
    15.05.2016 € 766.40 € 79.70 € 846.10 € 46.47 Late
    15.06.2016 € 790.67 € 74.30 € 864.97 Late
    15.07.2016 € 815.71 € 63.87 € 879.58 Late
    15.08.2016 € 841.54 € 57.43 € 898.97 Late

    The loan has defaulted. Debt collection has been initiated.

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  • History of Actions

    28.06.2016 Communication with the client Client has started paying some small amounts. Hope to get out without restructuring.
    26.07.2016 Communication with the client Client has time to pay until August 9, 2016. Otherwise Capitalia will terminate agreement.
    12.09.2016 Debt collection started Contract with the borrower has been terminated and debt collection process has been started
    12.09.2016 Communication with the client Collection document given to Antstolis for forced collection from company and guarantor assets. Loan agreement is terminated. Antstolis has strict terms. News can be expected in 30 days. Capitalia already paid for Notary and Antstolis expenses.
    13.10.2016 Communication with the Bailiff Update from Ballif: Outlook is difficult, neither company nor guarantor has assets that could be sold. All bank accounts are arrested.
    02.12.2016 Collection Bailiff has not collected anything from company or guarantor yet.
    06.01.2017 Collection Bailiff performs collection procedures.
    30.01.2017 Collection Baillif hasn't had any progress in debt collection.
    08.03.2017 Collection Bailiff has not collected any amount during Febuary from company and from guarantor.
    03.05.2017 Collection Debtor and guarantor are not cooperating. Bailiff is not collecting money from bank accounts because they are empty. Looking into opportunities to deal with shareholders, but nothing promising yet.
    08.06.2017 Collection Received small payment from Bailiff. Guarantor is now in contact with Capitalia. Plans to repay large part soon. More details to come in following weeks.
    11.07.2017 Collection No new payments received from Bailiff, guarantor is not reachable again.
    15.08.2017 Collection No new payments received from Bailiff, guarantor is still employed in this company, thus no deductions from salary are done as well.
    06.09.2017 Collection Bailiff has not collected anything during August. Unable to reach warrantor.
    11.10.2017 Collection Bailiff has not collected anything during September Unable to reach warrantor.
    08.11.2017 Collection Bailiff has not collected anything during October. Unable to reach warrantor.
    13.12.2017 Collection Monitoring news that company started bankruptcy procedure. Bailiff will continue collection from guarantor.
    15.01.2018 Collection Bailiff will continue working with case, news expected in February.
    16.02.2018 Collection Bailiff will continue working with guarantor, no income so far. Company started bankruptcy, Capitalia is approved as creditor.
    16.04.2018 Collection Creditor meeting took place, decision was made to realise left assets of firewood and other small items.

    Debt collection costs: € 66.76