Agricultural loan for purchase of land and seasonal funding

Beschreibung

This project gives LendSecured investors an opportunity to provide funding in the amount of € 11 500 for Bauskas rajona Svitenes pagasta zemnieku saimniecība "GAITIŅI", registration No. 43601028569, in order to secure funds for purchase of land(6000EUR) and seasonal funding.

This project gives an opportunity to make a loan with an annual rate of 11%, LTV of 48%, a loan term of 9 months, with the monthly manner of interest payments.

The borrower has been operating since 2004 and is engaged in agriculture, hunting, and related service activities. In order to secure the repayment of the loan, the borrower has concluded an agreement for winter wheat sale in the volume of 110t. The repayment of the loan will be done, once the harvest will be handed to the buyer.

The borrower is a recipient of government subsidies and 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 220 per ton, thus the value of the harvest is estimated at EUR 24 200.

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 €24,200.00
• Beleihungsquote 48%
• Sicherheit Winter wheat
• Menge 110t
• Personal Guarantee By Owener Māra Cimermane
• Versicherung against loss of crops due to natural disasters, such as hail, rainfall, storm