Funding for Rudbāržu pagasta zemnieku saimniecība PĪLĀDŽI VR

Kredit

• Betrag € 46585.00
• Zinssatz 11%
• Laufzeit 36m
• Art der Sicherheit Land
• Beleihungsquote 44%

Beschreibung

This project gives LANDE investors an opportunity to provide funding in the amount of € 46 585 for farming company Rudbāržu pagasta zemnieku saimniecība PĪLĀDŽI VR to receive loan for farm development.

The annual interest rate of 11%, LTV of 44%, loan term is 36 months. The Loan is repaid in several payments according to a schedule agreed with the Borrower. Interest payments on the use of the Loan shall be made monthly in accordance with the Schedule.

The borrower is engaged in crop farming, managing 1007 ha of arable land and growing wheat, rye, barley and rapeseed. Financial results for 2022: annual turnover € 1552 711, profit € 170 485.

The collateral consists of a land plot with a total area of 12 ha of agricultural land located in Pīlādži, Rudbāržu pag., Skrundas nov., cadastre number: 62820040021 and Ozolnieki, Rudbāržu pag., Skrundas nov., cadastre number: 62820050043.

In order to secure the claims, arising out of loan agreements, a first-hand mortgage in the amount of € 65 600 will be registered on the collateral in the Land Register of Latvia.

The demand for agricultural land currently in Latvia exceeds supply and 25% of farmers are forced to rent the land, as there is none available on the market. The price of agricultural land plots in the parish of the collateral ranges from € 5 000 to 6 000 per ha.

To secure the repayment of the loan, the borrower is pledging farming machinery: John Deere;- model: 6930; - reg. No. T8978LM; -VIN: 1L06930XTBN676187.

The current market value of both machinery is estimated to be € 40 000.

Borrower aims to repay the loan from incoming business revenues.

The borrower is a recipient of support payments from the European Agricultural Guarantee Fund and the European Agricultural Fund for Rural Development.

Dokumente

• Land evaluation
• Land evaluation