Funding for ZS Ciprese

Loan

• Amount € 5350.00
• Interest rate 10%
• Term 24m
• Collateral type Land
• LTV 45%

Description

This project gives LANDE investors an opportunity to provide funding in the amount of € 5 350 for farming company ZS Ciprese to re-finance an exisiting loan for which loan term will be extended by additional 24 months.

The annual interest rate of 10%, LTV of 45%. The total amounts of payments of the Principal amount of the Loan and the interest for the Loan use are equal in all months of the Loan repayment.

The borrower is engaged in in vegetable growing and selling since 2012 and managing 3.10 ha of arable land. Financial results for 2022: annual turnover € 41 464.58, profit € 9 868.1.

The collateral consists of a land plot with a total area of 3.10 ha of agricultural land located in ,,Zvaņi”, Valgundes pag., Jelgavas nov. cadastral number: 54860090013.

In order to secure the claims, arising out of loan agreements, a first-hand mortgage in the amount of € 12 000 will be registered on the collateral in the Land Register of Latvia.

The demand for agricultural land currently in Latvia exceeds supply and 25% of farmers are forced to rent the land, as there is none available on the market. The price of agricultural land plots in the parish of the collateral ranges from € 3 500 to 4 000 per ha.

Borrower aims to repay the loan from incoming business revenues.

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

Documents

• Land evaluation

Other borrower loans

• Funding for "Ciprese"