Agricultural loan for the repair of the farm building
FG

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Agricultural loan for the repair of the farm building

€3,600.00

Make investment

€3,600.00

Raised of €3,600.00

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Loan

  • Amount €3,600.00
  • Interest rate 11%
  • Term 20m
  • Collateral type Land
  • LTV 27%

Description

This project provides LendSecured investors with an opportunity to finance an agricultural loan secured by a first rank mortgage on real estate “Edīte”, located in Stoļerova, Stoļerovas parish, Rēzeknes region for a self-employed farmer. The funding target for this project is € 3 600.00, which will be used to repair the farm building.

This project gives an opportunity to make a loan with an annual rate of 11%, LTV of 27%, loan term of 20 months, with monthly payments of interest and principal.

The collateral consists of 3 land plots with a total area of 7.71 ha. In order to secure the claims, arising out of loan agreements, a first-hand mortgage in the amount of € 7 200,00 will be registered on the collateral in the Land Register of Latvia.

The current market value of the collateral is estimated at € 13 400 subsequently making loan to collateral value ratio (LTV) - 27%.

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 € 1 800 per ha. The average price of forest land keep increasing, on average being € 2 140 per ha.

Borrower is self-employed farmer and will use the funds to repair the farm building. The borrower is a recipient of support payments from European Agricultural Guarantee Fund and European Agricultural Fund for Rural Development and aims to repay the loan from incoming business revenues.

Documents

  • Market Review
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Schedule

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 15.11.2021 €164.83 €33.00 €197.83 Icon check Paid
2 15.12.2021 €166.34 €31.49 €197.83 Icon check Paid
3 15.01.2022 €167.87 €29.96 €197.83 Icon check Paid
4 15.02.2022 €169.40 €28.43 €197.83 Icon check Paid
5 15.03.2022 €170.96 €26.87 €197.83 Icon check Paid
6 15.04.2022 €172.52 €25.31 €197.83 Icon check Paid
7 15.05.2022 €174.11 €23.72 €197.83 Icon check Paid
8 15.06.2022 €175.70 €22.13 €197.83 Icon check Paid
9 15.07.2022 €177.31 €20.52 €197.83 Icon check Paid
10 15.08.2022 €178.94 €18.89 €197.83 Icon check Paid
11 15.09.2022 €180.58 €17.25 €197.83
12 15.10.2022 €182.23 €15.60 €197.83
13 15.11.2022 €183.90 €13.93 €197.83
14 15.12.2022 €185.59 €12.24 €197.83
15 15.01.2023 €187.29 €10.54 €197.83
16 15.02.2023 €189.01 €8.82 €197.83
17 15.03.2023 €190.74 €7.09 €197.83
18 15.04.2023 €192.49 €5.34 €197.83
19 15.05.2023 €194.25 €3.58 €197.83
20 15.06.2023 €195.94 €1.80 €197.74

Borrower

  • Country Latvia, LV

Collateral

  • Country Latvia, LV
  • Collateral type Land
  • Collateral value €13,400.00
  • LTV 27%

Investment Breakdown

Investor Amount
Anchor investments €15.31
Investor 1 €286.32
Investor 2 €28.66
Investor 3 €28.66
Investor 4 €28.66
Investor 5 €286.32
Investor 6 €37.43
Investor 7 €28.66
Investor 8 €30.95
Investor 9 €28.66
Investor 10 €57.29
Investor 11 €28.66
Investor 12 €28.66
Investor 13 €28.66
Investor 14 €150.05
Investor 15 €28.66
Investor 16 €28.66
Investor 17 €28.66
Investor 18 €114.55
Investor 19 €28.66
Investor 20 €28.66
Investor 21 €47.96
Investor 22 €343.57
Investor 23 €57.29
Investor 24 €30.38
Investor 25 €114.55
Investor 26 €28.84
Investor 27 €28.66
Investor 28 €60.15
Investor 29 €0.00
Investor 30 €15.31
Totals €3,600.00
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