Funding for Zemnieku saimniecība BITES

Loan

• Amount € 7700.00
• Interest rate 12%
• Term 36m
• Collateral type Machinery
• LTV 51%

Description

This project gives LANDE investors an opportunity to provide a loan in the amount of € 7,700.00 for a farming company Zemnieku saimniecība BITES to receive a loan for working capital, input purchase.

Annual interest 12%, LTV 51%, loan term 36 months. The Loan is repaid by one payment on the last day of the Loan maturity term. The interest for the Loan  use  is  paid  each  month  in accordance with the Schedule.

The borrower is a crop farming company which is growing wheat, oats, barley and other grains, enagged in cattle farming owning 53 livestock animals, working on 83 ha large agricultural land. Financial results in 2022 were: turnover € 61 456, net profit: € 26,131.

This project is backed by a commercial pledge on the collateral: a tractor CASE IH / Claas Rollant, registration no. T8300LT, VIN DO30732D002907 / 04604496RC. The current market value of the pledged tractor is estimated to be € 15 000.

The borrower aims to repay the loan from incoming business revenue.

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

Documents

• Machinery appraisal
• Machinery appraisal

Other borrower loans

• Funding for ZS BITES