Seasonal funding (SIA Zaļie Zari)

Description

This project gives LendSecured investors an opportunity to provide seasonal funding in the amount of € 11 250.00 for SIA Zaļie Zari, registration No. 45403024571, for the purchase of machinery.

This project gives an opportunity to make a loan with an annual rate of 11%, LTV of 56%, loan term of 6 months, with monthly manner of interest payments.

Borrower has been operating since 2009 and is engaged in mixed farming (crop and livestock production). In order to secure the repayment of the loan, the borrower has concluded an agreement for summer wheat sale in volume of 100t. The repayment of the loan will be done, once the harvest will be handed to the buyer.

The borrower is a recipient of support payments from European Agricultural Guarantee Fund and European Agricultural Fund for Rural Development.

The price of wheat is determined by the stock exchange and at the time of the harvest will be approximately EUR 202 per ton, thus the value of the harvest is estimated at EUR 20 200.00.

To avoid loss of crops due to natural disasters, such as hail, rainfall or storm, the harvest will be insured.

Collateral

• Country Latvia, LV
• Collateral Type Grain
• Collateral Value €20,200.00
• LTV 56%
• Pledge Summer wheat
• Volume 100t
• Personal guarantee By owner Viesturs Bremze
• Insurance against loss of crops due to natural disasters, such as hail, rainfall, storm