Funding for Self-employed farmer

Împrumut

• Suma € 21000.00
• Rata dobânzii 10%
• Termen 36m
• Tipul garanției colaterale Teren
• LTV - raport împrumut/valoare 55%

Descriere

This project gives LANDE investors an opportunity to provide funding in the amount of € 21 000 for Self-employed farmer to receive loan for farm development.

The annual interest rate of 10%, LTV of 55%, loan term is 36 months. The Loan is repaid in several payments according to a schedule agreed with the Borrower. Interest payments on the use of the Loan shall be made monthly in accordance with the Schedule.

The borrower is engaged in crop farming, managing 100 ha of arable land and growing wheat and oats. Financial results for 2022: annual turnover € 17 000.

The collateral consists of a land plot with a total area of 8.9 ha of agricultural land located in ,,Zariņš”, Maltas Trūpi, Galēnu pag., Preiļu nov., cadastre number: 76480030178 and ,,Laukakmens”, Galēnu pag., Preiļu nov., cadastre number: 76480020399.

In order to secure the claims, arising out of loan agreements, a first-hand mortgage in the amount of € 25 950 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 € 2 500 to 3 000 per ha.

To secure the repayment of the loan, the borrower is pledging farming machinery: Grain combine- brand: Dronningborg; -model: D7000 Hydrostatic; -registration no.: T5306LH; - VIN: 38691.

The current market value of both machinery is estimated to be € 12 000.

Borrower aims to repay the loan from incoming business revenues.

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

Documente

• Land evaluation
• Land evaluation
• Machinery appraisal

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