You're reading the June 2024 edition of LANDE's Platform Performance Report, which we publish monthly to highlight our progress in loan issuance and debt collection and provide insight into other platform or team developments. 

The total amount issued to farmers on the LANDE platform in June 2024 was €723,731 across 35 projects (avg. project value €20,678). The breakdown by country is as follows: 

95 new investors registered on the LANDE Platform in June. 

LANDE investors earned a total of €74,100 in interest in June, getting to an all-time total of €1.58 million.  

The Investor Relations team reported a 10% decline in the number of customer support tickets submitted in June compared to the previous month, with no significant issues generating complaints and/or clarifications. 

With trading on the Secondary Market having resumed last month and now going at full speed, our tech team released a new set of filters to make it easier for investors to browse and select available projects.  

Users can now select projects by entering ranges for interest rate, loan term, and LTV, as well as choose their preferred country, collateral type, schedule type, and payment delay interval.  

We also want to remind readers of our Summer Boost Cashback Campaign, which has been extended to last all summer long, providing higher cashback bonuses for single investments above €500. Make sure you take advantage of the most profitable season for LANDE investors! 

Loan repayments  

Upon a mid-July snapshot, out of a total of 1,068 projects funded through the LANDE platform, 465 had been repaid in full while 603 were active, with their repayment status detailed below:   

In Latvia, 8 loans were fully repaid in June. 3 clients are scheduled to make final payments in July. 

In Lithuania, no clients made final repayments in June; 4 clients are scheduled to finalize the repayment process in July. 

In Romania, no clients made final repayments in June. One project is scheduled for final repayments in July.  

Repaid principal reached €301,650 in June, adding to the all-time total of €9,037,000. 

More real-time portfolio data can be found on our statistics page.  

Collateral quality  

LANDE credit teams on all our markets have continued to focus on selecting low-risk clients that can provide high-quality collateral, with land/property and machinery being prioritized over higher risk categories like cattle, harvests or financial collateral – as these tend to be more unpredictable and more difficult to evaluate.  

The share of loans issued in June that were backed by either land/property or machinery in each market was the following: Romania 66%; Lithuania 77%; Latvia 81%. 

Debt collection  

A total of 63 projects are currently in default (5,9%) across LANDE markets by our debt collection teams, after all soft recovery processes were exhausted. 

Of all defaulted projects, 49 are currently in the most advanced stages of legal and recovery proceedings (with either peaceful settlements or final court decision for enforcement issued). 43 are already being enforced by bailiffs who are seizing the sellable assets and organizing auctions. The duration of recovery of assets by bailiffs will vary by market and case particularities. 

Debt collection highlights by market 

Latvia: 

Romania:  

230327-149177 – legal enforcement has been noted in the land book register of the mortgaged goods; the bailiff is going to physically identify them in order to start the evaluation procedure, prior to selling at auction 

230322-901160 – second auction date is set for the pledged machinery – several potential buyers have already expressed interest 

230825-228151 - received approval to start legal enforcement against the pledged machinery 

Lithuania:  

230130-903611 - Debtor was transferred for collection in April and the debt has already been collected, following the sale of a pledged tractor in June. The amounts owed are being processed and will be distributed to investors’ accounts during July.  

Each defaulted project's specific recovery status can be found on individual project pages in investors’ portfolios. Read more about LANDE's loan protection and debt collection practices here.