Agricultural loan for seasonal funding

Beschreibung

This project gives LendSecured investors an opportunity to provide seasonal funding in the amount of € 23 650 for "Raibenes” Ltd, registration No. 40203146213, in order to secure funds for next season.

The borrower has a standing loan (210430-686615), that can be paid fully, but he wishes to acquire extra funding for next season. As well as changing loan repayment type from bullet to annuity, and returning full loan in term of 12 months.

This project gives an opportunity to make a loan with an annual rate of 11%, LTV of 44%, a loan term of 12 months, with a monthly manner of principal and interest payments.

The borrower has been operating since 2018 and is engaged in growing cereals (except rice), leguminous crops, and oilseeds. In order to secure the repayment of the loan, the borrower has concluded an agreement for winter wheat sale in the volume of 270t and. 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 the European Agricultural Guarantee Fund and the 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 200 per ton for winter wheat. The overall value of the harvest is estimated at EUR 54 000.

Sicherheit

• Land Latvia, LV
• Sicherheitstyp Getreide
• Wert der Sicherheit €54,000.00
• Beleihungsquote 44%
• Sicherheit Winter wheat
• Menge 270t
• Personal Guarantee By owner Aivars Bajārs
• Versicherung against loss of crops due to natural disasters, such as hail, rainfall, storm