Seasonal financing for purchase of mineral fertilizers
This project gives LendSecured investors an opportunity to provide seasonal funding in the amount of € 28 500 for Vecumnieku pagasta zemnieku saimniecība Gausiņi, registration No.43601030012, in order to secure funds for the purchase of mineral fertilizers necessary to cultivate the land for the new season.
This project gives an opportunity to make a loan with an annual rate of 12%, LTV of 48%, loan term of 5 months, with monthly manner of interest payments.
Borrower has been operating since 2019 and is engaged in sale of agricultural raw materials, live animals, textile raw materials and semi-finished goods. In order to secure the repayment of the loan, the borrower has concluded an agreement for wheat in volume of 300t. The repayment of the loan will be done, once the harvest will be handed to the buyer.
The borrower and buyer has fixed the price of wheat at EUR 196 per ton in the agreement of harvest purchase, thus making the value of the harvest EUR 58 800,00.
To avoid loss of crops due to natural disasters, such as hail, rainfall or storm, the harvest will be insured.
Wert der Sicherheit
by owner Asne Reksce
Against loss of crops due to natural disasters, such as hail, rainfall, storm