Project offers to make investments for farm development – purchasing of a new agricultural land.
The borrower a Latvian farm, has been founded in 1992 and is engaged in production of crop and animal products. Purchase of additional agricultural land will allow the borrower to increase the volume of production and annual turnover.
Project provides an investment opportunity to make a loan with 12% annual interest rate. Target to be raised in this fundraising phase is EUR 38 000, 00.
Loan is secured with the first-hand pledge on the existing farm real estate and also the object of purchase comprising the collateral of 35 ha of agricultural land.
The borrower aims to repay the loan from incoming area payments from Rural Support Service of Latvia or by refinancing with a long-term bank loan.