Seasonal funding for purchase of a grain harvester

Beschreibung

This project gives LendSecured investors an opportunity to provide seasonal funding in the amount of € 22 000 for "Raibenes” Ltd, registration No. 40203146213, in order to secure funds for a purchase of a new grain harvester.  

This project gives an opportunity to make a loan with an annual rate of 12%, LTV of 38%, loan term of 6 months, with monthly manner of interest payments.

Borrower has been operating since 2018 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 summer wheat sale in volume of 200t and oat sale in the volume of 85t. The repayment of the loan will be done, once the harvest will be handed to the buyer.

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

The price of wheat is determined by the stock exchange and at the time of the harvest will be approximately EUR 225 per ton, while the price of oats are determined by buyer and according to data of 2020 was EUR 159 per ton. The overall value of the harvest is estimated at EUR 58 515.

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 €58,515.00
• Beleihungsquote 38%
• Sicherheit Summer wheat (200t) and oat (85t)
• Menge 285t
• Persönliche Garantie By owner Aivars Bajārs
• Versicherung against loss of crops due to natural disasters, such as hail, rainfall, storm