Agricultural loan for purchase of machinery
FG

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Agricultural loan for purchase of machinery

€7,200.00

Make investment

€7,200.00

Raised of €7,200.00

Icon check Project is fully funded

Loan

  • Amount €7,200.00
  • Interest rate 11%
  • Term 12m
  • Collateral type Land
  • LTV 52%

Description

This project provides LendSecured investors with an opportunity to finance an agricultural loan in the amount of € 7 200 secured by a first rank mortgage on the real estate “Daiļi”, located in Mazzalves parish, Neretas region.

This project gives an opportunity to make a loan with an annual rate of 11%, LTV of 52%, loan term of 12 months, with monthly manner of interest and principal payments.

The collateral consists of an agricultural land plot with a total area of 6.2 ha. In order to secure the claims, arising out of loan agreements, a first-hand mortgage in the amount of € 14 400 will be registered on the collateral in the Land Register of Latvia. Aside from the mortgage, the collateral is debt free.

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 2 200 EUR per ha to 2 300 per ha, thus making the current market value of the collateral at € 13 950 and subsequently making loan to collateral value ratio (LTV) - 52%.

The Borrower is “Ozolkalni” Mazzalves pagasta Māra Daiļa zemnieku saimniecība, registration No. 48701009466, which is operating since 1993 and engaged in mixed farming.  The funds will be used for the purchase of new machinery in order to cultivate the land.

Borrower aims to repay the loan from incoming business revenues.

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 15.06.2021 €57.28 €66.00 €123.28 Icon check Paid
2 15.07.2021 €57.81 €65.47 €123.28 Icon check Paid
3 15.08.2021 €58.33 €64.95 €123.28 Icon check Paid
4 15.09.2021 €58.87 €64.41 €123.28 Icon check Paid
5 15.10.2021 €59.41 €63.87 €123.28 Icon check Paid
6 15.11.2021 €59.95 €63.33 €123.28 Icon check Paid
7 15.12.2021 €60.50 €62.78 €123.28 Icon check Paid
8 15.01.2022 €61.06 €62.22 €123.28 Icon check Paid
9 15.02.2022 €61.62 €61.66 €123.28 Icon check Paid
10 15.03.2022 €62.18 €61.10 €123.28 Icon check Paid
11 15.04.2022 €62.75 €60.53 €123.28 Icon check Paid
12 15.05.2022 €63.33 €59.95 €123.28 Icon check Paid
13 15.05.2022 €6,476.91 €0.00 €6,476.91 Icon check Paid

Borrower

  • Country Latvia, LV

Collateral

  • Country Latvia, LV
  • Collateral type Land
  • Collateral value €13,950.00
  • LTV 52%
  • Mortgage first rank

Investment Breakdown

Investor Amount
LANDE co-finance -€0.04
Investor 1 -€0.04
Investor 2 €0.02
Investor 3 €0.02
Investor 4 €0.04
Investor 5 €0.27
Investor 6 €0.02
Investor 7 €0.02
Investor 8 €0.03
Investor 9 €0.03
Investor 10 €0.14
Investor 11 -€0.02
Investor 12 €0.02
Investor 13 €0.14
Investor 14 €0.02
Investor 15 €0.04
Investor 16 €0.04
Investor 17 €0.02
Investor 18 €0.03
Investor 19 €0.02
Investor 20 €0.02
Investor 21 €0.27
Investor 22 €0.27
Investor 23 €0.14
Investor 24 €0.08
Investor 25 €0.04
Investor 26 €0.17
Investor 27 €0.02
Investor 28 €0.03
Investor 29 €0.02
Investor 30 €0.03
Investor 31 €0.01
Investor 32 €0.02
Investor 33 €0.03
Investor 34 €0.02
Investor 35 €0.01
Investor 36 €0.02
Investor 37 €0.03
Investor 38 €0.01
Investor 39 €0.01
Investor 40 €0.02
Investor 41 €0.02
Investor 42 €0.04
Investor 43 €0.02
Investor 44 €0.01
Investor 45 -€0.01
Investor 46 €0.02
Investor 47 €0.03
Investor 48 €0.02
Totals €7,200.00
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