This project gives LendSecured investors an opportunity to provide seasonal funding in the amount of € 10 500 for "EKO BURKĀNS” Ltd, registration No. 45403024124, 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 53%, loan term of 6 months, with monthly manner of interest payments.
Borrower has been operating since 2009 and is engaged in growing cereals (except rice), leguminous crops and oil seeds. In order to secure the repayment of the loan, the borrower has concluded an agreement for winter wheat sale in volume of 100t. 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 200 per ton, making the value of the harvest EUR 20 000,00.
To avoid loss of crops due to natural disasters, such as hail, rainfall or storm, the harvest will be insured.
by owner Arnis Vaļka
against loss of crops due tonatural disasters, such as hail, rainfall, storm