Funding for Constantinescu I. Ileana PFA

Loan

• Amount € 32000.00
• Interest rate 12%
• Term 36m
• Collateral type Land
• LTV 59%

Description

This project gives LANDE investors an opportunity to provide funding in the amount of € 32 000 for a farming company Constantinescu I. Ileana PFA to receive funds to refinance existing loan and to extend current repayment term.

The annual interest rate of 12%, LTV of 59%, and a loan term of 36 months. The Loan is repaid in several payments according to the Schedule agreed with the Borrower. The Loan and interest on the use of the Loan for the specified period of use of the loan are repaid in one payment according to the Schedule.

The borrower is a crop farming company growing wheat, rapeseed, maize and sunflower as well as managing 178.63 ha of agricultural land. Financial results in 2022 were: revenue € 242 000.

The collateral consists of a land plot with a total area of 6.983 ha. In order to secure the claims, arising out of loan agreements a first-hand mortgage will be registered on the collateral in the Land Register of Romania. Aside from the mortgage, the collateral is debt free. The total value of the collateral is estimated to be € 54 000.

1) Land cadastre number 52584, surface 1,63 hectars, tarla 64, Parcela 40;

2) Land cadastre number 50209, surface 0,8216 hectars, tarla 37, Parcela 2;

3) Land cadastre number 50210, surface 0,4784 hectars, tarla 41, Parcela 1;

4) Land cadastre number 52879, surface 0,1122 hectars, tarla 45, Parcela 65;

5) Land cadastre number 52889, surface 0,1908 hectars, tarla 45, Parcela 55;

6) Land cadastre number 52582, surface 1,75 hectars, tarla 62, Parcela 50;

7) Land cadastre number 52644, surface 2,0 hectars, tarla 63, Parcela 830/9.

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

Documents

• Land evaluation

Other borrower loans

• Ileana Constantinescu