Agricultural loan
FG

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Agricultural loan

€3,400.00

Make investment

€3,400.00

Raised of €3,400.00

Icon check Project is fully funded

Loan

  • Amount €3,400.00
  • Interest rate 12%
  • Term 11m
  • Collateral type Land
  • LTV 26%

Description

This project provides LendSecured investors with an opportunity to finance an agricultural loan in the amount of € 3 400 secured by a first rank mortgage on the real estate “Kapusala”, located in Vectilza, Vectilzas parish, Balvu region.

This project gives an opportunity to make a loan with an annual rate of 12%, LTV of 26%, loan term of 12 months, with monthly manner of interest and principal payments.

The collateral consists of 3 agricultural land plots with a total area of 9.46 ha and 9 buildings on the respective land. In order to secure the claims, arising out of loan agreements, a first-hand mortgage in the amount of € 6 800 will be 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 is estimated at € 13 070 subsequently making loan to collateral value ratio (LTV) - 26%.  Even upon a forced sale, estimating that the real estate will be sold for 30% lower than the market value (€ 9 149), LTV will not exceed 50%.

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 1 300 EUR per ha to 1 700 per ha.

The Borrower is an owner of a farm undertaking, which under the Latvian legislation is not registered in the commercial register. The Borrower is engaged in livestock production and will use the funds to purchase the feed and for the repair of the farm building.

Borrower aims to repay the loan from incoming business revenues or from the sale of one of the land plots.

Documents

  • Market Review
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Schedule

The loan repayment schedule is informative and can be subject to change.
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 10.03.2021 €65.54 €34.00 €99.54 Icon check Paid
2 10.04.2021 €66.20 €33.34 €99.54 Icon check Paid
3 10.05.2021 €66.86 €32.68 €99.54 Icon check Paid
4 10.06.2021 €67.53 €32.01 €99.54 Icon check Paid
5 28.06.2021 €3,133.87 €18.80 €3,152.67 Icon check Paid

Borrower

  • Country Latvia, LV

Collateral

  • Country Latvia, LV
  • Collateral type Land
  • Collateral value €13,070.00
  • LTV 26%
  • Mortgage first rank

Investment Breakdown

Investor Amount
LANDE co-finance €0.00
Investor 1 €0.00
Investor 2 €0.00
Investor 3 €0.01
Investor 4 €0.01
Investor 5 €0.00
Investor 6 €0.00
Investor 7 €0.00
Investor 8 €0.00
Investor 9 €0.00
Investor 10 €0.00
Investor 11 €0.00
Investor 12 €0.00
Investor 13 €0.00
Investor 14 €0.00
Investor 15 €0.00
Investor 16 €0.00
Investor 17 €0.00
Investor 18 €0.00
Investor 19 €0.00
Investor 20 €0.00
Investor 21 €0.00
Investor 22 €0.00
Investor 23 €0.00
Investor 24 €0.00
Investor 25 €0.00
Totals €3,400.00

Latest comments

The first payment should be paid on March 10 due to the payment schedule, right? So there is already a delay. Any reasons for that? Public holidays etc.?
15.03.2021
The first payment 10.03 is paid. Where are you looking?
17.03.2021
Indeed on 15th of March, the payment was not yet received, as there was a delay in payment processing. Now the payment is received and it is marked in the schedule accordingly.
LendSecured
18.03.2021
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