Funding for SIA Jaunpļavas

Kredit

• Betrag €5,470.00
• Zinssatz 10%
• Laufzeit 9m
• Art der Sicherheit Harvest
• Beleihungsquote 51%

Beschreibung

This project gives LANDE investors an opportunity to provide funding in the amount of € 5 470 for a farming company SIA Jaunpļavas to receive funds for working capital.

Annual interest rate of 10%, LTV of 51%, and a loan term of 9 months, with monthly manner of interest payments.

Borrower is engaged in crop farming, managing 100 ha of arable land and grows wheat, rye, rapeseed, oats and barley. Financial results in 2022 were: net revenue: € 27 635; net profit € 1 224.

In order to secure the repayment of the loan, the borrower has concluded an agreement for the summer wheat in the volume of 39.6 t. The repayment of the loan will be done once the harvest will be handed to the buyer.

The price of summer wheat is determined by the stock exchange and at the time of the harvest will be approximately € 269 per ton, thus the value of the harvest is estimated at € 10 690.

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