Agricultural loan
FG

Icon check Project is fully funded

Agricultural loan

€2,300.00

Make investment

€2,300.00

Raised of €2,300.00

Icon check Project is fully funded

Loan

  • Amount €2,300.00
  • Interest rate 11%
  • Term 12m
  • Collateral type Land
  • LTV 19%

Description

This project provides LendSecured investors with an opportunity to finance an agricultural loan in the amount of € 2 300 secured by a first rank mortgage on the real estate “Jaunripas”, located in Laucienes parish, Tasu region.

This project gives an opportunity to make a loan with an annual rate of 11%, LTV of 19%, loan term of 12 months, with monthly manner of interest and principal payments.

The collateral consists of a land plot with a total area of 4.7 ha, which consists of agricultural (1,6 ha) and forest land (2,8 ha). In order to secure the claims, arising out of loan agreements, a first-hand mortgage in the amount of € 4 600 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 € 12 400 subsequently making loan to collateral value ratio (LTV) - 19%.  Even upon a forced sale, estimating that the real estate will be sold for 30% lower than the market value (€ 8 680), 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 3 000 EUR per ha to 4 000 per ha. The average price of forest land keep increasing, on average being € 2 140 per ha.

The Borrower is self-employed in agricultural sector and is engaged in crop production. The funds will be used in order to replace the roof of a farm building.

Borrower aims to repay the loan from incoming business revenues.

Documents

  • Market Review
Please login to see a list of documents.

Other borrower loans

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 25.04.2021 €182.20 €21.08 €203.28 Icon check Paid
2 25.05.2021 €183.87 €19.41 €203.28 Icon check Paid
3 25.06.2021 €185.55 €17.73 €203.28 Icon check Paid
4 25.07.2021 €187.25 €16.03 €203.28 Icon check Paid
5 25.08.2021 €188.97 €14.31 €203.28 Icon check Paid
6 29.08.2021 €1,372.16 €1.62 €1,373.78 Icon check Paid

Borrower

  • Country Latvia, LV

Collateral

  • Country Latvia, LV
  • Collateral type Land
  • Collateral value €12,400.00
  • LTV 19%
  • Mortgage first rank

Investment Breakdown

Investor Amount
LANDE co-finance €0.00
Anchor investments €0.00
Investor 1 €0.00
Investor 2 €0.00
Investor 3 €0.00
Investor 4 €0.00
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
Totals €2,300.00
To leave a comments you will need to log in.