This project gives LendSecured investors an opportunity to provide seasonal funding in the amount of € 5298.99 for ZS "Strautmaņi”, registration No. 43601021306, in order to secure funds for next season.
This is the second loan for borrower in order to receive funding for seasonal expenses.
This project gives an opportunity to make a loan with an annual rate of 11%, LTV of 40%, a loan term of 10 months, with a monthly manner of interest payments.
The borrower has been operating since 1994 and is engaged in growing cereals (except rice), leguminous crops, and oilseeds and cattle breeding. In order to secure the repayment of the loan, the borrower has concluded an agreement for winter wheat sale in the volume of 60t and. 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 the European Agricultural Guarantee Fund and the 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 220 per ton for winter wheat. The overall value of the harvest is estimated at EUR 13200.
By owner Uldis Alksnis
against loss of crops due to natural disasters, such as hail, rainfall, storm