This project gives LendSecured investors an opportunity to provide seasonal funding in the amount of € 4 800 for Jaunannas pagasta zemnieku saimniecība "AIZUPES 1", registration No.43201002475, in order to secure working capital until the harvest.
This project gives an opportunity to make a loan with an annual rate of 12%, LTV of 42%, loan term of 8 months, with repayment of the loan and accumulated interest at the end of the loan term.
Borrower is an experienced farm operating for almost 30 years, which is engaged in crop and animal production, hunting and related service activities. In order to secure the repayment of the loan, the borrower has concluded an agreement for wheat sale in volume of 60t. The repayment of the loan will be done, once the harvest will be handed to the buyer.
The borrower is a recipient of state subsidies and support payments from European Agricultural Guarantee Fund and European Agricultural Fund for Rural Development.
The price of wheat is determined by the stock exchange and at the time of the harvest will be approximately EUR 190 per ton, making the value of the harvest EUR 11 400,00.
To avoid loss of crops due to natural disasters, such as hail, rainfall, storm or the loss of revenue due declines in the prices of agricultural commodities, the harvest will be insured.
11 400,00 €
by owner Dāvis Gusts
against loss of crops due to natural disasters, such as hail, rainfall, storm or the loss of revenue due declines in the prices of agricultural commodities