This project gives LendSecured investors an opportunity to provide seasonal funding in the amount of € 3 500 for Lazdukalna pagasta zemnieku saimniecība "OZOLI", registration No.43401001379, 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 35%, loan term of 7 months, with monthly manner of interest payments.
Borrower has been operating since 1992 and is engage in mixed farming. In order to secure the repayment of the loan, the borrower has concluded an agreement for wheat sale in volume of 52t. 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 191 per ton, making the value of the harvest EUR 9 930,00.
To avoid loss of crops due to natural disasters, such as hail, rainfall or storm, the harvest will be insured.
by owner Gunārs Voits
against loss of crops due to natural disasters, such as hail, rainfall, storm