You're reading the November 2024 edition of LANDE's Platform Performance Report, which we publish monthly to highlight our progress in loan issuance and debt collection and provide insight into other platform or team developments. 

The total amount farmers borrowed through the LANDE platform across our three markets in November 2024 was €1,184,526 across 37 projects (avg. project value €32,014). The breakdown by country is as follows:  

The share of loans issued in November that were backed by either land/property or machinery in each market was the following: Romania 91%; Lithuania 100%; Latvia 100%.  

128 new investors registered on the LANDE Platform in November. 

LANDE investors earned a total of €119,987 in interest in November, with the all-time total having now reached €2.22 million. 

The Investor Relations team reported a stable number of customer support tickets submitted in November compared to the previous month, with no significant issues generating high ticket volumes. 

The 3% cashback campaign for new investors remains active until the end of the year. New investors get 3% back on all investments they make on the Primary Market in the first 30 days on the platform. Additionally, all investors will get a 1% referral bonus for recommending our platform to a friend using the unique referral link on their dashboards (bonus applies to the investments made by the referred user in the first 30 days). 

Loan repayment statistics  

At the end of November there were 1,250 projects funded through the LANDE platform, of which 572 had been repaid in full while 678 were active, with their repayment status detailed below (+comparison with previous month):

Loans with collateral consisting of livestock and harvest hold the highest shares of 90+ day delays, which is why we have been moving away from these collateral categories and focusing more on securing projects backed by land and/or machinery. 

Repaid principal totalled €941,821 in November, while the all-time total has reached €11.96 million.  

More real-time portfolio data can be found on our statistics page.  

Debt collection stages 

Below is a breakdown of debt collection stages for delayed loans. Most of the 90+ loans are already in the enforcement phase with bailiffs engaged in recovering the value of the collateral. 

Details about debt collection stages can be found here.  

Market highlights 

Latvia: 

November was a successful month for all departments in Latvia, with funding for both new and existing clients. Lande is proud to highlight that approximately EUR 200,000 was raised for clients who had previously repaid their loans successfully and chose Lande again as their trusted financial partner. Additionally, the debt recovery department achieved positive result by recovering funds from defaulted project (230331-549109), further strengthening our overall financial stability and reliability. 
Similar to October, November has been marked by loan repayments, but farmers are still awaiting government subsidies, which are promised to be disbursed by the end of December. Overall, the season appears to be average for farmers. While some have successfully concluded the year, others are unable to draw conclusions until they have received full payment for delivered grain and the pending government subsidies. 
 

Romania:  

We have initiated a partnership with a carbon credit issuing company, which has the potential to help clients adopt more sustainable practices. Additionally, we have forged new partnerships with machinery suppliers, enabling us to finance RABLA projects by assisting farmers in obtaining co-financing for the purchase of used machinery. We have begun financing smaller farmers, particularly those involved in vegetable and fruit cultivation (e.g., watermelon growers). With thorough research, we've gained a deeper understanding of the potential of their businesses, which gives us confidence in approving loans after careful analysis.   

In terms of market trends, some clients have started receiving subsidies and making repayments, and they also appear more optimistic about the upcoming season because many have shifted from riskier crops (such as corn and sunflower, which are more vulnerable to drought) to barley, wheat or rapeseed. A significant number of farmers have already planted winter wheat, and current weather conditions are favorable, suggesting good yields in the coming year.  

Lithuania:  

In recent months, subsidies paid by the National Payment Agency have significantly improved the situation for farmers, as a large portion of their instalment payments and loans were covered thanks to these funds. Since the beginning of November, 13 loans have already been repaid. As a result of active debt management, the number of overdue days has substantially decreased, payment habits have changed, and planning is now being done in advance. As of today, there are only a few cases of refinancing, as others have repaid or plan to repay on time. Defaulted loans are gaining momentum in debt recovery, with one more loan fully recovered and a successful equipment repossession.