This project gives LendSecured investors an opportunity to provide seasonal funding in the amount of € 5 500 for "Jaunpļavas” Ltd, registration No. 43603081668, in order to secure funds for purchase of machinery for land cultivation.
This project gives an opportunity to make a loan with an annual rate of 11%, LTV of 37%, loan term of 6 months, with monthly manner of interest payments.
Borrower has been operating since 2018 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 rye sale in volume of 125t. The repayment of the loan will be done, once the harvest will be handed to the buyer.
The borrower is a recipient of support payments from European Agricultural Guarantee Fund and European Agricultural Fund for Rural Development.
The price of rye is not determined by the stock exchange, but buy buyer. Based on the data of 2020, the average price of rye is approximately EUR 118,00 per ton, making the value of the harvest EUR 14 750,00.
To avoid loss of crops due to natural disasters, such as hail, rainfall or storm, the harvest will be insured.
by owner Intars Valdmanis
Against loss of crops due to natural disasters, such as hail, rainfall, storm