Sesonal financing for ZS Pīlādži II

Beschreibung

This project gives LendSecured investors an opportunity to provide seasonal funding in the amount of € 10 000.00 for Upmalas pagasta zemnieku saimniecība "PĪLĀDŽI", registration No.41501020255, for working capital.

This project gives an opportunity to make a loan with an annual rate of 11%, LTV of 42%, loan term of 14 months, with monthly manner of interest payments.

Borrower has been operating since 1999 and is engaged in growing of cereals (except rice), leguminous crops and oil seeds. In order to secure the repayment of the loan, the borrower has concluded an agreement for winter wheat sale in volume of 100t. The repayment of the loan will be done, once the harvest will be handed to the buyer.

This is a second season, when borrower is using the services provided by LendSecured to ensure the working capital. In the beginning of 2021, the borrower obtained funds for the purchase of fuel (https://lendsecured.eu/en/loans/210618-386410). This loan was repaid by the buyer of the harvest this autumn. 

The borrower is a recipient of government subsidies and 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 240 per ton, thus the value of the harvest is estimated at EUR 24 00.00.

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

For additional guarantee the owner of the farm is providing a personal surety-ship in the full loan amount.

Sicherheit

• Land Latvia, LV
• Sicherheitstyp Getreide
• Wert der Sicherheit €24,000.00
• Beleihungsquote 42%
• Sicherheit winter wheat
• Menge 100t
• Personal Guarantee by owner Elita Dzene
• Versicherung against loss of crops due to natural disasters, such as hail, rainfall or storm