Agricultural loan
FG

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Agricultural loan

€10,500.00

Make investment

€10,500.00

Raised of €10,500.00

Icon check Project is fully funded

Loan

  • Amount €10,500.00
  • Interest rate 11%
  • Term 13m
  • Collateral type Land
  • LTV 28%

Description

This project provides LendSecured investors with an opportunity to finance an agricultural loan in the amount of € 10 500 secured by a first rank mortgage on the real estate “Lakstenieki”, located in Zvirgzdenes parish, Ciblas region.

This project gives an opportunity to make a loan with an annual rate of 11%, LTV of 28%, loan term of 12 months, with monthly manner of interest and principal payments.

The collateral consists of 3 land plots with a total area of 20.5 ha consisting both of agricultural and forest land. In order to secure the claims, arising out of loan agreements, a first-hand mortgage in the amount of € 21 000 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 € 37 280 subsequently making loan to collateral value ratio (LTV) - 28%.  Even upon a forced sale, estimating that the real estate will be sold for 30% lower than the market value (€ 26 096), 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 average price of forest land keep increasing, on average being € 2 140 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 forestry and will use the funds to purchase new equipment.

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

Documents

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

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 25.05.2021 €48.39 €96.25 €144.64 Icon check Paid
2 25.06.2021 €48.83 €95.81 €144.64 Icon check Paid
3 25.07.2021 €49.28 €95.36 €144.64 Icon check Paid
4 25.08.2021 €49.73 €94.91 €144.64 Icon check Paid
5 25.09.2021 €50.19 €94.45 €144.64 Icon check Paid
6 25.10.2021 €50.65 €93.99 €144.64 Icon check Paid
7 25.11.2021 €51.11 €93.53 €144.64 Icon check Paid
8 25.12.2021 €51.58 €93.06 €144.64 Icon check Paid
9 25.01.2022 €52.05 €92.59 €144.64 Icon check Paid
10 25.02.2022 €52.53 €92.11 €144.64 Icon check Paid
11 25.03.2022 €53.01 €91.63 €144.64 Icon check Paid
12 25.04.2022 €53.50 €91.14 €144.64 Icon check Paid
13 25.05.2022 €53.99 €90.65 €144.64 Icon check Paid
14 25.05.2022 €9,835.16 €0.00 €9,835.16 Icon check Paid

Borrower

  • Country Latvia, LV

Collateral

  • Country Latvia, LV
  • Collateral type Land
  • Collateral value €37,280.00
  • LTV 28%
  • Mortgage first rank

Investment Breakdown

Investor Amount
LANDE co-finance -€0.03
Investor 1 -€0.03
Investor 2 €0.04
Investor 3 €0.04
Investor 4 €0.04
Investor 5 €0.02
Investor 6 €0.07
Investor 7 €0.13
Investor 8 €0.03
Investor 9 €0.06
Investor 10 €0.02
Investor 11 €0.03
Investor 12 €0.03
Investor 13 €0.03
Investor 14 €0.03
Investor 15 €0.03
Investor 16 €0.03
Investor 17 €0.04
Investor 18 €0.03
Investor 19 €0.03
Investor 20 €0.03
Investor 21 €0.03
Investor 22 €0.04
Investor 23 €0.04
Investor 24 €0.28
Investor 25 €0.03
Investor 26 €0.04
Investor 27 €0.03
Investor 28 €0.13
Investor 29 €0.02
Investor 30 €0.04
Investor 31 €0.01
Investor 32 €0.03
Investor 33 €0.04
Investor 34 €0.05
Investor 35 €0.08
Investor 36 €0.04
Investor 37 €0.09
Investor 38 €0.26
Investor 39 €0.13
Investor 40 €0.04
Investor 41 €0.04
Investor 42 €0.03
Investor 43 -€0.02
Investor 44 €0.03
Investor 45 €0.04
Investor 46 €0.03
Investor 47 €0.03
Investor 48 €0.03
Investor 49 €0.03
Investor 50 €0.03
Investor 51 €0.03
Investor 52 €0.03
Investor 53 €0.21
Investor 54 €0.03
Investor 55 €0.16
Investor 56 €0.11
Investor 57 -€0.01
Investor 58 €0.01
Investor 59 €0.03
Investor 60 €0.00
Investor 61 -€1.99
Investor 62 €0.04
Investor 63 €0.07
Investor 64 €0.01
Investor 65 €0.02
Investor 66 -€0.51
Investor 67 €0.02
Investor 68 €0.03
Investor 69 €0.02
Investor 70 €0.01
Investor 71 €0.02
Investor 72 €0.02
Investor 73 €0.02
Investor 74 €0.01
Investor 75 €0.01
Investor 76 -€0.03
Investor 77 €0.00
Investor 78 €0.02
Investor 79 €0.01
Investor 80 €0.03
Investor 81 €0.02
Investor 82 €0.01
Investor 83 €0.03
Investor 84 €0.02
Investor 85 €0.01
Investor 86 €0.02
Investor 87 €0.02
Investor 88 €0.02
Investor 89 €0.02
Investor 90 €0.01
Totals €10,500.00

Latest comments

Please advise on the overdue interest payment.
Skipiol Artur
01.12.2021
We have contacted the borrower, and the payment will be made 10.12.21
LANDE
03.12.2021
Still waiting for the repayment of this loan together with the last interest payment. Any news on this project please?
Vallas Simon
05.05.2022
Hello Lande-Team, please inform the circle of investors of this project about the status of the overdue loan repayment. The payment was already due more than a month ago (25.04.2022).
Schmidt Werner Bernd
28.05.2022
Please, update us on the project. Still waiting for full repayment. Thanks
Vallas Simon
03.06.2022
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