Funding for ĀZĪŠI Balvu pagasta zemnieku saimniecība IV

Loan

• Amount € 16000.00
• Interest rate 11%
• Term 36m
• Collateral type Land
• LTV 59%

Description

This project provides LANDE investors with an opportunity to finance an agricultural loan in the amount of € 16000, secured by a first-rank mortgage on real estate, located in ''Romāni'', Āžudambis, Balvu pag., Balvu nov., Latvia cadastre number 38460040063 and in "Jaunkaldi", Balvu pag., Balvu nov., Latvia, cadastre number 38460040088.

The borrower is a farming company engaged in crop farming and cattle farming for 30 years, growing wheat, oats, barley, rapeseed and will use the loan to purchase  machinery.

The annual interest rate of 11%, LTV of 59%, and the loan term of 36 months. The loan principal payment, loan interest and monitoring fee are paid according to the Annuity principle with an accelerated loan repayment term in one payment.

The collateral consists of an agricultural land plot with a total area of 9.72 ha and the buildings on it. In order to secure the claims, arising out of loan agreements, a first-hand mortgage in the amount of € 27 216 will be registered on the collateral in the Land Register of Latvia.

The average price of agricultural land plots in the parish of the collateral is € 2800 per ha.

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.