This project gives LendSecured investors an opportunity to provide seasonal funding in the amount of € 3 600.00 for a self-employed farmer, engaged in crop production. The borrower is seeking funds for working capital (purchase of fuel, seeds, and fertilizers).
This project gives an opportunity to make a loan with an annual rate of 11%, LTV of 34%, loan term of 13 months with monthly payments of interest.
In order to secure the repayment of the loan, the borrower has concluded an agreement for winter wheat sale in volume of 45t. The repayment of the loan will be done, once the harvest will be handed to the buyer.
This is a second time, when borrower is obtaining funds via LendSecured. In the beginning of 2021, the borrower obtained funds to replace the roof of the farm building (https://lendsecured.eu/en/loans/210311-376304). This loan was repaid in August.
The price of wheat is determined by the stock exchange and at the time of the harvest will be approximately EUR 235.00 per ton, making the value of the harvest around EUR 10 575.00.
To avoid loss of crops due to natural disasters, such as hail, rainfall or storm, the harvest will be insured.
against loss of crops due to natural disasters, such as hail, rainfall or storm