Agricultural loan for purchase of harvester
FG

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Agricultural loan for purchase of harvester

€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 24m
  • Collateral type Land
  • LTV 26%

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 “Rozes”, located in Jaunatnes street 4, Vārkava, Vārkavas parish, Vārkavas region.

This project gives an opportunity to make a loan with an annual rate of 11%, LTV of 26%, loan term of 24 months, with monthly manner of interest payments and full repayment of principal at the end of the loan term.

The collateral consists of 5 agricultural and forest land plots with a total area of 15.99 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 current market value of the collateral is estimated at € 27 865 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 (€ 19 505), 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 self-employed in agricultural sector and is engaged in cattle breeding. The funds will be used to purchase a harvester, in order to gather the feed for cattle.

Borrower aims to repay the loan from incoming business revenues (sale of cattle).

Documents

  • Market Review
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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 10.06.2021 €0.00 €66.00 €66.00 Icon check Paid
2 10.07.2021 €0.00 €66.00 €66.00 Icon check Paid
3 10.08.2021 €0.00 €66.00 €66.00 Icon check Paid
4 10.09.2021 €0.00 €66.00 €66.00 Icon check Paid
5 10.10.2021 €0.00 €66.00 €66.00 Icon check Paid
6 10.11.2021 €0.00 €66.00 €66.00 Icon check Paid
7 10.12.2021 €0.00 €66.00 €66.00 Icon check Paid
8 10.01.2022 €0.00 €66.00 €66.00 Icon check Paid
9 20.01.2022 €7,200.00 €21.29 €7,221.29 Icon check Paid

Borrower

  • Country Latvia, LV

Collateral

  • Country Latvia, LV
  • Collateral type Land
  • Collateral value €27,865.00
  • LTV 26%
  • Mortgage first rank

Investment Breakdown

Investor Amount
LANDE co-finance €0.00
Investor 1 €0.00
Investor 2 €0.01
Investor 3 €0.01
Investor 4 €0.01
Investor 5 €0.00
Investor 6 €0.01
Investor 7 €0.01
Investor 8 €0.01
Investor 9 €0.01
Investor 10 €0.01
Investor 11 €0.01
Investor 12 €0.00
Investor 13 €0.01
Investor 14 €0.01
Investor 15 €0.01
Investor 16 €0.00
Investor 17 €0.00
Investor 18 €0.01
Investor 19 €0.01
Investor 20 €0.01
Investor 21 €0.01
Investor 22 €0.01
Investor 23 €0.01
Investor 24 €0.01
Investor 25 €0.01
Investor 26 €0.01
Investor 27 €0.01
Investor 28 €0.01
Investor 29 €0.01
Investor 30 €0.00
Investor 31 €0.01
Investor 32 €0.00
Investor 33 €0.00
Investor 34 €0.01
Investor 35 €0.01
Investor 36 €0.00
Investor 37 €0.01
Investor 38 €0.00
Investor 39 €0.01
Investor 40 €0.00
Investor 41 €0.01
Investor 42 €0.01
Investor 43 €0.00
Investor 44 €0.00
Investor 45 €0.00
Investor 46 €0.01
Investor 47 €0.00
Investor 48 €0.01
Investor 49 €0.00
Investor 50 €0.00
Investor 51 €0.01
Investor 52 €0.00
Investor 53 €0.01
Investor 54 €0.01
Investor 55 €0.00
Investor 56 €0.00
Investor 57 €0.01
Investor 58 €0.00
Investor 59 €0.00
Investor 60 €0.01
Investor 61 €0.01
Totals €7,200.00
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