This project gives LendSecured investors an opportunity to provide seasonal funding in the amount of € 7 000.00 for Jelgavas rajona Glūdas pagasta zemnieku saimniecība “AUCES KLEIŠI”, registration No.48501012603, with an aim to fund a purchase of a new machinery - grain harvester.
This project gives an opportunity to make a loan with an annual rate of 12%, LTV of 41%, loan term of 13 months, with monthly manner of interest payments.
Jelgavas rajona Glūdas pagasta zemnieku saimniecība “AUCES KLEIŠI”, registration No.48501012603, is a family-operated business developed in 1995 and engaged in mixed farming. In order to secure the repayment of the loan, the borrower has concluded an agreement for winter wheat sale in volume of 80t. 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 213 per ton, making the overall value of the harvest around EUR 17 040.
To avoid loss of crops due to natural disasters, such as hail, rainfall or storm, the harvest will be insured.
For additional guarantee the owner of the farm is providing a personal surety-ship in the full loan amount.
17 040,00 €
by owner Edgars Suharovs
against loss of crops due to natural disasters, such as hail, rainfall or storm