SIA "BSP SERVISS", registration No.44103061936 (hereafter – The Borrower), has applied for registration on LendSecured in order to obtain capital for the improvements for fish ponds which the Borrower is operating.
This project gives an opportunity to make a loan with an annual rate of 11%, LTV of 53%, loan term of 4 months, with monthly manner of interest payments.
Borrower has been operating since 2010 in different businesses. Since 2015 Borrower has operated fish farm. On 2020 Borrower started growing buckwheat to realize the full potential of his land and profit from the rapid rise in buckwheat prices. In order to secure the repayment of the loan, the borrower has concluded an agreement for buckwheat sale in volume of 20t. The repayment of the loan will be done, once the harvest will be handed to the buyer.
The price of buckwheat is determined by the purchase agreement and will be EUR 450 per ton, making the value of the harvest EUR 9 000,00.
by owner Kristaps Gailis
against loss of crops due to natural disasters, such as hail, rainfall, storm