This project gives LendSecured investors an opportunity to provide funding in the amount of € 9 300 for “Evo Agro” Ltd., registration No.52103091811, against commercial pledge of machinery - Case MXM 175, 2005., engine hours: 6455.
This project gives an opportunity to make a loan with an annual rate of 11%, LTV of 54%, loan term of 14 months, with monthly manner of interest payments.
Borrower is “Evo Agro” Ltd., registration No. 52103091811, which is engaged in growing of cereals (except rice), leguminous crops and oil seeds. The aim of the project is to fund the purchase of the collateral. In order to receive the other part of the purchase price, the borrower is also obtaining another loan via LendSecured in the amount of € 10 000, which will be repaid from the future grain harvest.
The current market value of the asset is estimated at € 17 300, making loan to collateral value (LTV) – 54%.
To avoid losses incurred as a result of a traffic accident, fire, natural disaster, misconduct of a third party, falling objects and substances, explosion, theft or robbery, the asset is insured.
This project is backed by a commercial pledge on the collateral. For additional guarantee the shareholder of the borrower is providing a personal surety-ship in the full loan amount and a commercial pledge is going to the registered on all assets belonging to the borrower.