This project gives LendSecured investors an opportunity to provide seasonal funding in the amount of € 5 800 for IK "Ziemeļaustrumu tilts" registration No. 43402000648, in order to secure funds for the purchase of fuel to cultivate the land for the new season.
This project gives an opportunity to make a loan with an annual rate of 11%, LTV of 24%, loan term of 6 months, with monthly manner of interest payments.
Borrower has been operating since 1993 and is engaged in mixed farming, growing of cereals (except rice), leguminous crops and oil seeds. In order to secure the repayment of the loan, the borrower has concluded an agreement for oat sale in volume of 150t. The repayment of the loan will be done, once the harvest will be handed to the buyer.
The price of oats is not determined by the stock exchange, but buy buyer, and is approximately EUR 159,00 per ton, making the value of the harvest EUR 23 850,00.
The borrower is a recipient of state subsidies and support payments from European Agricultural Guarantee Fund and European Agricultural Fund for Rural Development.
To avoid loss of crops due to natural disasters, such as hail, rainfall or storm, the harvest will be insured.
by owner Raimonds Zelčs
Against loss of crops due to natural disasters, such as hail, rainfall, storm