This project gives LendSecured investors an opportunity to provide seasonal funding in the amount of € 6700 for "AC PROJEKT” Ltd, registration No. 41203054562, in order to secure working capital until the harvest.
This project gives an opportunity to make a loan with an annual rate of 10%, LTV of 49%, a loan term of 12 months, with a monthly manner of interest payments.
The borrower was founded in 2015 and is operating in various fields, such as growing cereals (except rice), leguminous crops and oil seeds, raising sheep and goats, and constructing residential and non-residential buildings. In order to secure the repayment of the loan, the borrower has concluded an agreement for wheat sale in the volume of 68t. The repayment of the loan will be done, once the harvest will be handed to the buyer.
This is the borrower's second project on our platform, the first loan was successfully repaid by the borrower.
The borrower is a recipient of support payments from the European Agricultural Guarantee Fund and the European Agricultural Fund for Rural Development.For an additional guarantee, the owner of the farm is giving a personal surety in the full loan amount.
The price of wheat is determined by the stock exchange and at the time of the harvest will be approximately EUR 200 per ton, making the value of the harvest EUR 13 600,00.
To avoid loss of crops due to natural disasters, such as hail, rainfall, or storm, the harvest will be insured.