This project gives LendSecured investors an opportunity to provide seasonal funding in the amount of € 19 250.00 for Eidmaņa zemnieku saimniecība "VĒJI", registration No.49201001099, in order to receive funds for working capital.
This project gives an opportunity to make a loan with an annual rate of 10%, LTV of 56%, loan term of 3 months, with monthly manner of interest payments.
Borrower has been operating since 1992 and is engaged in agriculture, animal husbandry and trade. In order to secure the repayment of the loan, the borrower has concluded an agreement for winter and summer wheat sale in volume of 160t. 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.For additional guarantee the owner of the farm is giving a personal surety in the full loan amount.
The price of wheat is determined by the stock exchange and at the time of the harvest will be approximately EUR 213 per ton, thus the value of the harvest is estimated at EUR 34 080.00.
To avoid loss of crops due to natural disasters, such as hail, rainfall or storm, the harvest will be insured.
Winter and summer wheat
By owner Kārlis Eidmanis
against loss of crops due to natural disasters, such as hail, rainfall, storm