Promotional project No. 5/10
FG

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Promotional project No. 5/10

€15,430.78

Make investment

€15,430.78

Raised of €15,430.78

Icon check Project is fully funded

Loan

  • Amount €15,430.78
  • Interest rate 13%
  • Term 22m
  • Collateral type Land
  • LTV 21%

Description

This project provides LendSecured investors with an opportunity to finance an agricultural loan, which is secured by the mortgage of a land plot. The funding target for this project is € 15 430.78, in order to refinance an existing loan and reduce the interest rate.

This investment opportunity offers LendSecured investors to make a loan with an annual rate of 13%, LTV of 21%, loan term of 24 months, with monthly manner of interest and principal payments.

The collateral consists of a land plot of 30.4 ha and a complex of 5 buildings upon it. The land plot consists of 17.2 ha of agricultural land and 11.5 ha of forests. In order to secure the claims, arising out of loan agreements, a first-hand mortgage in the amount of € 30 861.56 have already been registered on the collateral in the Land Register of Latvia. Aside from the mortgage, the collateral is debt free.

The current market value of the collateral estimated by a certified appraiser is € 74 000 subsequently making loan to collateral value ratio (LTV) - 21%. The estimated value upon a forced sale is estimated € 52 000 (LTV 30%).

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 Borrower is an owner of a farm undertaking, which under the Latvian legislation does not constitute as a merchant and is not registered in the commercial register. Borrower obtained the initial loan, which is now to be refinanced, in 2017, for business development. The Borrower cultivates the agricultural land and grows barley for sale. Additionally, Borrower receives state aid payments for forests, compensation payments for areas with significant natural constraints and payments for climate and environment friendly agricultural practices.

Borrower aims to repay the loan from incoming business revenues, sale of forests or refinancing the loan.

Documents

  • Evaluation - Kocēnu novads, Puķītes
  • [ENG] Evaluation - Kocēnu novads, Puķītes.pdf
  • Market Review
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Schedule

Grace period - 5 day period after the designated payment date according to the payment schedule, when the loan is not considered to be delayed, because of the bank transfer period.
# Date Principal Interest Total Status
1 25.01.2021 €183.93 €167.17 €351.10 Icon check Paid
2 25.02.2021 €185.93 €165.17 €351.10 Icon check Paid
3 25.03.2021 €187.94 €163.16 €351.10 Icon check Paid
4 25.04.2021 €189.98 €161.12 €351.10 Icon check Paid
5 25.05.2021 €192.03 €159.07 €351.10 Icon check Paid
6 25.06.2021 €194.11 €156.99 €351.10 Icon check Paid
7 25.07.2021 €196.22 €154.88 €351.10 Icon check Paid
8 25.08.2021 €198.34 €152.76 €351.10 Icon check Paid
9 25.09.2021 €200.49 €150.61 €351.10 Icon check Paid
10 25.10.2021 €202.66 €148.44 €351.10 Icon check Paid
11 25.11.2021 €204.86 €146.24 €351.10 Icon check Paid
12 25.12.2021 €207.08 €144.02 €351.10 Icon check Paid
13 25.01.2022 €209.32 €141.78 €351.10 Icon check Paid
14 25.02.2022 €211.59 €139.51 €351.10 Icon check Paid
15 25.03.2022 €213.88 €137.22 €351.10 Icon check Paid
16 25.04.2022 €216.20 €134.90 €351.10 Icon check Paid
17 25.05.2022 €218.54 €132.56 €351.10 Icon check Paid
18 25.06.2022 €220.91 €130.19 €351.10 Icon check Paid
19 25.07.2022 €223.30 €127.80 €351.10 Icon check Paid
20 25.08.2022 €225.72 €125.38 €351.10 Icon check Paid
21 25.09.2022 €228.17 €122.93 €351.10 Icon check Paid
22 25.10.2022 €230.64 €120.46 €351.10 Icon check Paid
23 25.10.2022 €10,888.94 €0.00 €10,888.94

Borrower

  • Country Latvia, LV

Collateral

  • Country Latvia, LV
  • Collateral type Land
  • Collateral value €74,000.00
  • LTV 21%
  • Mortgage first rank

Investment Breakdown

Investor Amount
LANDE co-finance -€0.03
Anchor investments -€369.07
Investor 1 €37.61
Investor 2 €75.12
Investor 3 €37.61
Investor 4 €75.12
Investor 5 €75.12
Investor 6 €0.00
Investor 7 €37.61
Investor 8 -€0.03
Investor 9 €37.88
Investor 10 €75.12
Investor 11 €75.12
Investor 12 €75.12
Investor 13 €76.25
Investor 14 €37.61
Investor 15 €0.00
Investor 16 -€0.01
Investor 17 €0.00
Investor 18 €37.61
Investor 19 €37.61
Investor 20 €38.17
Investor 21 €37.61
Investor 22 €0.00
Investor 23 -€0.03
Investor 24 €37.61
Investor 25 €0.00
Investor 26 €485.62
Investor 27 €112.67
Investor 28 €375.31
Investor 29 €37.61
Investor 30 -€369.07
Investor 31 €38.05
Investor 32 €38.05
Investor 33 €38.05
Investor 34 €38.52
Investor 35 €38.52
Investor 36 €37.16
Investor 37 €0.58
Investor 38 €76.96
Investor 39 €38.52
Investor 40 €192.29
Investor 41 €76.96
Investor 42 €0.00
Investor 43 €768.96
Investor 44 €39.28
Investor 45 €38.52
Investor 46 €153.85
Investor 47 €192.29
Investor 48 €38.52
Investor 49 €384.52
Investor 50 €39.38
Investor 51 €389.38
Investor 52 €389.38
Investor 53 €389.38
Investor 54 €366.01
Investor 55 €39.02
Investor 56 -€6.93
Investor 57 €39.02
Investor 58 €389.38
Investor 59 €39.02
Investor 60 €39.02
Investor 61 €39.02
Investor 62 €39.02
Investor 63 €39.02
Investor 64 €77.94
Investor 65 €39.02
Investor 66 €233.64
Investor 67 €0.00
Investor 68 €3.96
Investor 69 €175.11
Investor 70 €98.08
Investor 71 €66.25
Investor 72 €12.14
Investor 73 €39.02
Investor 74 €394.40
Investor 75 €75.12
Investor 76 €92.86
Investor 77 €39.50
Investor 78 €75.12
Investor 79 €394.40
Investor 80 €22.95
Investor 81 €39.51
Investor 82 €39.50
Investor 83 €78.92
Investor 84 €78.93
Investor 85 €7.95
Investor 86 €39.50
Investor 87 €24.36
Investor 88 €35.70
Investor 89 -€0.01
Investor 90 €78.92
Investor 91 €39.50
Investor 92 €159.88
Investor 93 €159.88
Investor 94 €159.88
Investor 95 €399.58
Investor 96 €571.41
Investor 97 €40.02
Investor 98 €87.96
Investor 99 €40.02
Investor 100 €79.96
Investor 101 €40.02
Investor 102 €16.95
Investor 103 €79.96
Investor 104 €79.96
Investor 105 €73.39
Investor 106 €39.02
Investor 107 €76.42
Investor 108 €44.32
Investor 109 €1.73
Investor 110 €21.47
Investor 111 €44.62
Investor 112 €402.51
Investor 113 €0.00
Investor 114 €64.63
Investor 115 €9.32
Investor 116 €5.40
Investor 117 €1.89
Investor 118 €62.37
Investor 119 €22.72
Investor 120 €6.20
Investor 121 €59.18
Investor 122 €9.65
Investor 123 €48.16
Investor 124 €48.16
Investor 125 €9.68
Investor 126 €57.79
Investor 127 €49.39
Investor 128 €48.16
Investor 129 €37.08
Investor 130 €39.28
Investor 131 €75.12
Totals €15,535.93
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