This project gives LendSecured investors an opportunity to provide seasonal funding in the amount of € 15 300.00 for Rikavas pagasta zemnieku saimniecība “DAGUMNIEKI”, registration No.42401001257, in order to receive funds for the purchase of 2 land plots.
This project gives an opportunity to make a loan with an annual rate of 11%, LTV of 46%, loan term of 13 months, with monthly manner of interest payments.
Borrower has been operating since 1991 and is engaged in mixed farming (crop and livestock production). In order to secure the repayment of the loan, the borrower has concluded an agreement for winter wheat sale in volume of 140t. 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 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 238 per ton, thus the value of the harvest is estimated at EUR 33 300.00.
To avoid loss of crops due to natural disasters, such as hail, rainfall or storm, the harvest will be insured.
by owner Aigars Mozmačs
against loss of crops due to natural disasters, such as hail, rainfall or storm