Seasonal funding for purchase of machinery
FG

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Seasonal funding for purchase of machinery

€10,000.00

Make investment

€10,000.00

Raised of €10,000.00

Icon check Project is fully funded

Loan

  • Amount €10,000.00
  • Interest rate 11%
  • Term 6m
  • Collateral type Grain
  • LTV 55%

Description

This project gives LendSecured investors an opportunity to provide seasonal funding in the amount of € 10 000.00 for “Evo Agro” Ltd., registration No. 52103091811, for purchase of machinery - Case MXM 175, 2005., engine hours: 6455. To fund the purchase, the borrower is obtaining another loan via LendSecured in the amount of € 9 300.00 backed by machinery pledge.

This project gives an opportunity to make a loan with an annual rate of 11%, LTV of 55%, loan term of 6 months, with monthly manner of interest payments.

Borrower has been operating since 2019 and is engaged in growing of cereals (except rice), leguminous crops and oil seeds. In order to secure the repayment of the loan, the borrower has concluded an agreement for sale of winter wheat and barley in total 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 borrower has already agreed on the price of harvest per ha with buyer. The purchase price of wheat has been set at € 193 per ha, while the price of barley - € 170 per ha. This makes the overall value of harvest € 18 150.

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

For additional guarantee the shareholder of the borrower is providing a personal surety-ship in the full loan amount and a commercial pledge is going to the registered on all assets belonging to the borrower.

Documents

  • Info from Enterprise Register
  • Info from Enterprise Register 2
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 25.09.2021 €0.00 €91.66 €91.66 Icon check Paid
2 25.10.2021 €0.00 €91.66 €91.66 Icon check Paid
3 25.11.2021 €0.00 €91.66 €91.66 Icon check Paid
4 25.12.2021 €0.00 €91.66 €91.66 Icon check Paid
5 25.01.2022 €0.00 €91.66 €91.66 Icon check Paid
6 10.03.2022 €10,000.00 €134.23 €10,134.23 Icon check Paid

Borrower

  • Country Latvia, LV

Collateral

  • Country Latvia, LV
  • Collateral type Grain
  • Collateral value €18,150.00
  • LTV 55%
  • Pledge winter wheat (50t) and barley (50t)
  • Volume 100t
  • Personal Guarantee by shareholder Eduards Šķērsts
  • Insurance against loss of crops due to natural disasters, such as hail, rainfall, storm

Investment Breakdown

Investor Amount
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
Investor 23 €0.00
Investor 24 €0.00
Investor 25 €0.00
Investor 26 €0.00
Investor 27 €0.00
Investor 28 €0.00
Investor 29 €0.00
Investor 30 €0.00
Investor 31 €0.00
Investor 32 €0.00
Investor 33 €0.00
Investor 34 €0.00
Investor 35 €0.00
Investor 36 €0.00
Investor 37 €0.00
Investor 38 €0.00
Investor 39 €0.00
Investor 40 €0.00
Investor 41 €0.00
Investor 42 €0.00
Investor 43 €0.00
Investor 44 €0.00
Investor 45 €0.00
Investor 46 €0.00
Investor 47 €0.00
Investor 48 €0.00
Investor 49 €0.00
Investor 50 €0.00
Investor 51 €0.00
Investor 52 €0.00
Investor 53 €0.00
Investor 54 €0.00
Investor 55 €0.00
Investor 56 €0.00
Investor 57 €0.00
Investor 58 €0.00
Investor 59 €0.00
Investor 60 €0.00
Investor 61 €0.00
Investor 62 €0.00
Investor 63 €0.00
Investor 64 €0.00
Investor 65 €0.00
Investor 66 €0.00
Investor 67 €0.00
Investor 68 €0.00
Investor 69 €0.00
Investor 70 €0.00
Investor 71 €0.00
Investor 72 €0.00
Investor 73 €0.00
Investor 74 €0.00
Investor 75 €0.00
Investor 76 €0.00
Investor 77 €0.00
Investor 78 €0.00
Investor 79 €0.00
Investor 80 €0.00
Investor 81 €0.00
Investor 82 €0.00
Investor 83 €0.00
Investor 84 €0.00
Investor 85 €0.00
Investor 86 €0.00
Investor 87 €0.00
Investor 88 €0.00
Investor 89 €0.00
Investor 90 €0.00
Investor 91 €0.00
Investor 92 €0.00
Investor 93 €0.00
Investor 94 €0.00
Investor 95 €0.00
Investor 96 €0.00
Investor 97 €0.00
Investor 98 €0.00
Investor 99 €0.00
Investor 100 €0.00
Investor 101 €0.00
Totals €10,000.00

Latest comments

Is there anything being done to retrieve the outstanding interest? This loan appears late but I have not seen anything related to steps to rectify the situation.
Chalmers Colin
12.10.2021
my account shows that the interest for sept was paid by today.
mohr marcus oliver
13.10.2021
Indeed the payment has been received and interest payments have been credited to investors accounts.
LANDE
22.10.2021
Hello, this loan appears overdue but I have not read any action by LendSecured to recover the situation.
Forte Pietro
29.11.2021
Regarding this loan, the borrower has been contacted, and he promises to make payments in this week's time.
LANDE
29.11.2021
Investors should be informed about the extension of the repayment schedule and the reasons for this should be explained. Without such information, it becomes suspicious.
Jagi Pawel
09.12.2021
The borrower does not pick up the phone. On Monday(21.02.22) first warning notice will be sent via mail.
LANDE
18.02.2022
Any update with this loan?
Benediktavicius Algimantas
03.03.2022
The full loan repayment has been received today and will be distributed tomorrow.
LANDE
10.03.2022
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