This project gives LendSecured investors an opportunity to provide seasonal funding in the amount of € 10 000.00 for “Evo Agro” Ltd., registration No. 52103091811, for purchase of machinery - Case MXM 175, 2005., engine hours: 6455. To fund the purchase, the borrower is obtaining another loan via LendSecured in the amount of € 9 300.00 backed by machinery pledge.
This project gives an opportunity to make a loan with an annual rate of 11%, LTV of 55%, loan term of 6 months, with monthly manner of interest payments.
Borrower has been operating since 2019 and is engaged in 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 sale of winter wheat and barley in total volume of 100t. 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 borrower has already agreed on the price of harvest per ha with buyer. The purchase price of wheat has been set at € 193 per ha, while the price of barley - € 170 per ha. This makes the overall value of harvest € 18 150.
To avoid loss of crops due to natural disasters, such as hail, rainfall or storm, the harvest will be insured.
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.
winter wheat (50t) and barley (50t)
by shareholder Eduards Šķērsts
against loss of crops due to natural disasters, such as hail, rainfall, storm