Project will offer to make investments with the aim to refinance agricultural loan to a lower interest rate.
The borrower is an agricultural company registered in Latvia, dealing with dairy farming. The funds will be used to refinance an existing loan with higher interest rate in order to optimize the operation of the company.
Loans will be secured with a first-hand pledge on the real estate comprising 21.45 ha of agricultural land and 5.82 ha of forest land.
The borrower aims to repay the loan from incoming revenues or by refinancing with a long-term loan.
Owner of the borrower provides a personal guarantee in the full mortgage amount.