Agricultural loan “Mālkalns”, Lazdukalna parish, Balvu region
FG

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Agricultural loan “Mālkalns”, Lazdukalna parish, Balvu region

€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 24m
  • Collateral type Land
  • LTV 67%

Description

This project provides LendSecured investors with an opportunity to finance an agricultural loan secured by a first rank mortgage on half of the real estate “Mālkalns”, located in Lazdukalna parish, Balvu region for a self-employed farmer. The funding target for this project is € 10 000.00, which will be used for the purchase of another real estate.

This project gives an opportunity to make a loan with an annual rate of 11%, LTV of 67%, loan term of 24 months, with monthly manner of interest payments.

The collateral consists of 4 land plots with a total area of 7.8 ha, consisting of agricultural land. In order to secure the claims, arising out of loan agreements, a first-hand mortgage in the amount of € 20 000.00 will be registered on the collateral in the Land Register of Latvia.

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 € 1 900 per ha.

Borrower and his family are self-employed farmers engaged in cattle breeding. Borrower and his family is seeking funds to purchase additional real estate and expand their business. Borrower aims to repay the loan from incoming business revenues. Borrower is a recipient of support payments from European Agricultural Guarantee Fund and European Agricultural Fund for Rural Development.

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 10.12.2021 €0.00 €91.66 €91.66 Icon check Paid
2 10.01.2022 €0.00 €91.66 €91.66 Icon check Paid
3 10.02.2022 €0.00 €91.66 €91.66 Icon check Paid
4 10.03.2022 €0.00 €91.66 €91.66 Icon check Paid
5 10.04.2022 €0.00 €91.66 €91.66 Icon check Paid
6 10.05.2022 €0.00 €91.66 €91.66 Icon check Paid
7 10.06.2022 €0.00 €91.66 €91.66 Icon check Paid
8 10.07.2022 €0.00 €91.66 €91.66 Icon check Paid
9 10.08.2022 €0.00 €91.66 €91.66 Icon check Paid
10 10.09.2022 €0.00 €91.66 €91.66 Icon check Paid
11 10.10.2022 €0.00 €91.66 €91.66
12 10.11.2022 €0.00 €91.66 €91.66
13 10.12.2022 €0.00 €91.66 €91.66
14 10.01.2023 €0.00 €91.66 €91.66
15 10.02.2023 €0.00 €91.66 €91.66
16 10.03.2023 €0.00 €91.66 €91.66
17 10.04.2023 €0.00 €91.66 €91.66
18 10.05.2023 €0.00 €91.66 €91.66
19 10.06.2023 €0.00 €91.66 €91.66
20 10.07.2023 €0.00 €91.66 €91.66
21 10.08.2023 €0.00 €91.66 €91.66
22 10.09.2023 €0.00 €91.66 €91.66
23 10.10.2023 €0.00 €91.66 €91.66
24 10.11.2023 €0.00 €91.66 €91.66
25 11.11.2023 €10,000.00 €0.00 €10,000.00

Borrower

  • Country Latvia, LV

Collateral

  • Country Latvia, LV
  • Collateral type Land
  • Collateral value €14,820.00
  • LTV 67%

Investment Breakdown

Investor Amount
Anchor investments €27.00
Investor 1 €50.00
Investor 2 €200.00
Investor 3 €500.00
Investor 4 €500.00
Investor 5 €1,000.00
Investor 6 €50.00
Investor 7 €51.00
Investor 8 €125.00
Investor 9 €814.00
Investor 10 €50.00
Investor 11 €280.00
Investor 12 €50.00
Investor 13 €50.00
Investor 14 €50.00
Investor 15 €100.00
Investor 16 €150.00
Investor 17 €52.00
Investor 18 €5,051.00
Investor 19 €50.00
Investor 20 €50.00
Investor 21 €50.00
Investor 22 €200.00
Investor 23 €50.00
Investor 24 €0.00
Investor 25 €27.00
Investor 26 €50.00
Investor 27 €100.00
Investor 28 €50.00
Investor 29 €100.00
Investor 30 €0.00
Investor 31 €10.00
Investor 32 €40.00
Investor 33 €50.00
Investor 34 €50.00
Totals €10,000.00
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