Funding for ZS Āmuri

Împrumut

• Suma € 13265.00
• Rata dobânzii 10%
• Termen 36m
• Tipul garanției colaterale Teren
• LTV - raport împrumut/valoare 14%

Descriere

This project provides LANDE investors with an opportunity to finance an agricultural loan in amount of € 13 265, secured by a first-rank mortgage on a real estate, located in "Porieši", Asares pag., Jēkabpils nov., Latvia.

Borrower, is a farming company, engaged in cattle farming and manages 150 ha arable land and will use the loan to receive additional funds to an existing loan. Financials in 2021: net revenue € 54 123.

Annual interest rate of 10%, LTV of 14%, loan term of 36 months, with a monthly manner of interest payments.

The collateral consists of a land plot with a total area of 23.9 ha agricultural land and 3 ha forest land. 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 Latvia. Aside from the mortgage, the collateral is debt free. 

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 € 3 200 to € 3 800 per ha. The price for forest land plots in the parish of the collateral ranges from € 2 000 to € 2 200 per ha.

The current market value of the collateral is estimated to be € 92 420 subsequently making the loan to collateral value ratio (LTV) - 14%.

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

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