Working capital until rapeseed harvest

Beschreibung

This project gives LendSecured investors an opportunity to provide seasonal funding in the amount of € 21 200 for "BIO VĀRPA” Ltd, registration No. 44103108175, in order to secure working capital until the harvest.

This project gives an opportunity to make a loan with an annual rate of 12%, LTV of 58%, loan term of 5 months, with monthly manner of interest payments.

Borrower has been operating since 2016 and is engaged in growing cereals (except rice), leguminous crops and oil seeds. In order to secure the repayment of the loan, the borrower has concluded an agreement for rapeseed sale in volume of 75t. The repayment of the loan will be done, once the harvest will be handed to the buyer.

This is the second time “BIO VĀRPA” Ltd seeks seasonal financing through LendSecured. On March 2021 “BIO VĀRPA” Ltd obtained financing in the amount of EUR 15 750,00, securing the repayment of the loan by concluding a sales agreement for 155t of winter wheat.

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

The price of rapeseed is determined by the stock exchange and at the time of the harvest will be approximately EUR 488 per ton, making the value of the harvest EUR 36 600,00.

To avoid loss of crops due to natural disasters, such as hail, rainfall or storm, the harvest will be insured.

Sicherheit

• Land Latvia, LV
• Sicherheitstyp Getreide
• Wert der Sicherheit €36,600.00
• Beleihungsquote 58%
• Sicherheit Rapeseed
• Menge 75t
• Persönliche Garantie by owner Inga Vaļka
• Versicherung Against loss of crops due to natural disasters, such as hail, rainfall, storm