This project gives LendSecured investors an opportunity to provide seasonal funding in the amount of € 11 470.00 for Barkavas pagasta zemnieku saimniecība "Augšnieki", registration No. 57101002091, for the purchase of fuel.
This project gives an opportunity to make a loan with an annual rate of 11%, LTV of 30%, loan term of 4 months, with monthly manner of interest payments.
Borrower has been operating since 1992 and is engaged in production, processing and sale of agricultural products. In order to secure the repayment of the loan, the borrower has concluded an agreement for winter wheat sale in volume of 180t. The repayment of the loan will be done, once the harvest will be handed to the buyer.
The borrower is a recipient of government 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 215 per ton, thus the value of the harvest is estimated at EUR 37 800.
To avoid loss of crops due to natural disasters, such as hail, rainfall or storm, the harvest will be insured.
By representative Andrejs Ikaunieks
against loss of crops due to natural disasters, such as hail, rainfall, storm