Funding for IK Grauds-S

Împrumut

• Suma € 29000.00
• Rata dobânzii 11%
• Termen 24m
• Tipul garanției colaterale Utilaje
• LTV - raport împrumut/valoare 46%

Descriere

This project gives LANDE investors an opportunity to provide funding in the amount of € 29 000 for a farming company IK Grauds-S to receive a loan to build a hangar.

This project gives an opportunity to make a loan with an annual rate of 11%, LTV of 46%, and a loan term of 24 months, with a monthly manner of interest payments and annual principal payments according to the schedule.

The borrower is a that is engaged in crop farming and manages 167.61 ha of arable land. Financial results in 2022 were: revenue € 131 668; net profit € 49 730.

This project is backed by a commercial pledge on the collateral: tractor John Deere 6830, registration no. T2867LH, year of issuance 2012. The current market value of the pledged machinery is estimated to be € 43 000.

Besides the commercial pledge, the borrower pledges a land plot with a total area of 7.1 ha of agricultural land and 0.2 ha of 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 € 2 600 to € 2 800 per ha and the price of forest land plots in the parish of the collateral ranges from € 2 100 to € 2 200 per ha.

The 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

• Machinery valuation

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