Calculate your earnings
How much would you like to invest?
EUR
Minimum investment:
50.00 EUR
Available to invest:
0.00 EUR
Your investment:
EUR
EUR
Estimated earnings
EUR
Target total
info_outline
How are my earnings calculated? Learn here.
Investment Sold
Pelecu, Preilu
| Annual Yield: | 11 % |
| Yield Distribution: | Monthly |
| Investment Type: | Debt |
| Project Type: | Land |
| Estimated Repayment Date: | 05 February 2026 |
| Extension option: | 0 |
| Term: | 0 |
| LTV: | 56 % |
| Risk Rating: | A |
Janova, Pelēču pagasts, Preiļu novads, LV-5320, Latvia
Investment provided by:
Overview
Pelecu, Preilu - OVERVIEW
This investment opportunity is provided by Lande
Summary
The total loan amount requested by the borrower is EUR 63,000.00
BrikkApp is offering our investors the opportunity to participate in funding a portion of this loan.
The purpose of this loan is funding for livestock expansion for € 63,000 secured by a first-rank mortgage.
Annual Yield
Your invested capital earns interest at 11 % pa for all investments over the entire funding period
Yield Distribution & Term
This project gives an opportunity to make a loan with an annual rate of 11%, LTV of 56%, and a loan term of 36 months, with a manner of monthly interest payments and full repayment of the principal at the end of the loan term.
The loan has an estimated repayment date of 5 February 2026.
Investment
INVESTMENT OPPORTUNITY
This project gives an opportunity to make a loan with an annual rate of 11%, LTV of 56%, and a loan term of 36 months, with monthly manner of interest and principal payments.
The borrower aims to repay the loan from incoming business revenues. The borrower is a recipient of support payments from the European Agricultural Guarantee Fund and the European Agricultural Fund for Rural Development.
Investment Type
This is a “debt” investment, which means you are participating in funding a loan.
Risk
RISK ANALYSIS
Based on the details of this project, we have assessed a low-risk score A.
At BrikkApp, the risk is assessed on all projects presented using our risk model. Our risk model analyzes over 10 different metrics such as capital distribution, LTV, developer history, location, security level, and more.
The risk model uses a similar scoring model as traditional bond grading.
AAA is the safest, C is the riskiest.
The collateral consists of a land plot with a total area of 53.7 ha agricultural land. In order to secure the claims, arising out of loan agreements a first-hand mortgage in the amount of € 112 300 will be registered on the collateral in the Land Register of Latvia. Aside from the mortgage, the collateral is debt free.
The demand for agricultural land currently in Latvia exceeds supply and 25% of farmers are forced to rent the land, as there is none available on the market. The price of agricultural land plots in the parish of the collateral ranges from € 2 100 per ha to € 2 500 per ha. The current market value of the collateral is estimated to be € 112 300 subsequently making the loan to collateral value ratio (LTV) - 56%.
Provider
BORROWER
The investment is provided by Lande (LendSecured).
The borrower is a recipient of support payments from the European Agricultural Guarantee Fund and the European Agricultural Fund for Rural Development. The borrower aims to repay the loan from incoming business revenues.
News
Updates
25.7.2024
We are pleased to announce that we have received payment of the full principal and interest due.
28.06.2024 - message from Lande
LANDE has received information from State authority - all necessary actions have been fulfilled, LANDE has issued statement of liabilities, transaction for whole debt repayment should be made today, latest next week. Next updates will be provided after LANDE has the proof of made transaction.
11.04.2024 - Message from Lande
The borrower has signed an agreement regarding selling of his property - three party agreement between the borrower, LANDE and the new creditor. Money from the selling of property will cover the borrower's debt against LANDE. The transaction should be received latest till the end of April, and therefore existing project should be closed latest - first week of May.
7.11.2023 - Message from Lande
The borrower has made a payment covering monthly instalments for August. Within this month is planning to cover more of the delayed amount.
26.09.2023 - Message from Lande
The borrower has contacted LANDE. Has made partial payment for delayed amount. Right now is in the process of selling part of the lands owned by him. After selling plans to cover full loan to LANDE. Documents have been submitted to ALTUM for selling land, ALTUM has committed to give an offer within 2 weeks regards the price. LANDE has agreed with the borrower to contact after 2 weeks to update the case and agree on loan repayment. The borrower has asked not to start court proceedings, and is willing to deal with debt, LANDE is the only creditor for the borrower. If the borrower will keep his commitment, LANDE has accepted the request for not submitting the claim in court.
15.09.2023 - Message from Lande
The borrower has made partial payment and is waiting for incoming money from sold milk. Will cover delayed amount within this month.
07.09.2023 - Message from Lande
Lande has contacted the borrower. The borrower transferred the management of his farm to his son, therefore debt has formed. Lande informed regarding possible legal actions and consequences - selling land and blocking bank accounts. Lande agreed to call the borrower in the next few days to discuss further steps to resolve the situation.
03.08.2023 - Message from Lande
According to data from the previous post, the borrower has received a warning. Is not reacting to phone calls, phone number closed. The case is given to a lawyer for evaluation for initiating court proceedings.
13.07.2023 - Message from Lande
DELAYED PAYMENTS
Notice has been issued. Delayed payments must be covered until 27.07.2023., otherwise full loan must be returned by 10.08.2023.
07.06.2023 - update from Lande:
A notice has been issued on 07.06.2023. Outstanding payments must be repaid by 21.06.2023., otherwise the loan in full must be returned by 05.07.2023. If the loan in full will not be returned, LANDE will issue a notice of withdrawal from the contract and submit a debt recovery application in court.
Pelecu, Preilu - OVERVIEW
This investment opportunity is provided by Lande
Summary
The total loan amount requested by the borrower is EUR 63,000.00
BrikkApp is offering our investors the opportunity to participate in funding a portion of this loan.
The purpose of this loan is funding for livestock expansion for € 63,000 secured by a first-rank mortgage.
Annual Yield
Your invested capital earns interest at 11 % pa for all investments over the entire funding period
Yield Distribution & Term
This project gives an opportunity to make a loan with an annual rate of 11%, LTV of 56%, and a loan term of 36 months, with a manner of monthly interest payments and full repayment of the principal at the end of the loan term.
The loan has an estimated repayment date of 5 February 2026.
INVESTMENT OPPORTUNITY
This project gives an opportunity to make a loan with an annual rate of 11%, LTV of 56%, and a loan term of 36 months, with monthly manner of interest and principal payments.
The borrower aims to repay the loan from incoming business revenues. The borrower is a recipient of support payments from the European Agricultural Guarantee Fund and the European Agricultural Fund for Rural Development.
Investment Type
This is a “debt” investment, which means you are participating in funding a loan.
RISK ANALYSIS
Based on the details of this project, we have assessed a low-risk score A.
At BrikkApp, the risk is assessed on all projects presented using our risk model. Our risk model analyzes over 10 different metrics such as capital distribution, LTV, developer history, location, security level, and more.
The risk model uses a similar scoring model as traditional bond grading.
AAA is the safest, C is the riskiest.
The collateral consists of a land plot with a total area of 53.7 ha agricultural land. In order to secure the claims, arising out of loan agreements a first-hand mortgage in the amount of € 112 300 will be registered on the collateral in the Land Register of Latvia. Aside from the mortgage, the collateral is debt free.
The demand for agricultural land currently in Latvia exceeds supply and 25% of farmers are forced to rent the land, as there is none available on the market. The price of agricultural land plots in the parish of the collateral ranges from € 2 100 per ha to € 2 500 per ha. The current market value of the collateral is estimated to be € 112 300 subsequently making the loan to collateral value ratio (LTV) - 56%.
BORROWER
The investment is provided by Lande (LendSecured).
The borrower is a recipient of support payments from the European Agricultural Guarantee Fund and the European Agricultural Fund for Rural Development. The borrower aims to repay the loan from incoming business revenues.
Updates
25.7.2024
We are pleased to announce that we have received payment of the full principal and interest due.
28.06.2024 - message from Lande
LANDE has received information from State authority - all necessary actions have been fulfilled, LANDE has issued statement of liabilities, transaction for whole debt repayment should be made today, latest next week. Next updates will be provided after LANDE has the proof of made transaction.
11.04.2024 - Message from Lande
The borrower has signed an agreement regarding selling of his property - three party agreement between the borrower, LANDE and the new creditor. Money from the selling of property will cover the borrower's debt against LANDE. The transaction should be received latest till the end of April, and therefore existing project should be closed latest - first week of May.
7.11.2023 - Message from Lande
The borrower has made a payment covering monthly instalments for August. Within this month is planning to cover more of the delayed amount.
26.09.2023 - Message from Lande
The borrower has contacted LANDE. Has made partial payment for delayed amount. Right now is in the process of selling part of the lands owned by him. After selling plans to cover full loan to LANDE. Documents have been submitted to ALTUM for selling land, ALTUM has committed to give an offer within 2 weeks regards the price. LANDE has agreed with the borrower to contact after 2 weeks to update the case and agree on loan repayment. The borrower has asked not to start court proceedings, and is willing to deal with debt, LANDE is the only creditor for the borrower. If the borrower will keep his commitment, LANDE has accepted the request for not submitting the claim in court.
15.09.2023 - Message from Lande
The borrower has made partial payment and is waiting for incoming money from sold milk. Will cover delayed amount within this month.
07.09.2023 - Message from Lande
Lande has contacted the borrower. The borrower transferred the management of his farm to his son, therefore debt has formed. Lande informed regarding possible legal actions and consequences - selling land and blocking bank accounts. Lande agreed to call the borrower in the next few days to discuss further steps to resolve the situation.
03.08.2023 - Message from Lande
According to data from the previous post, the borrower has received a warning. Is not reacting to phone calls, phone number closed. The case is given to a lawyer for evaluation for initiating court proceedings.
13.07.2023 - Message from Lande
DELAYED PAYMENTS
Notice has been issued. Delayed payments must be covered until 27.07.2023., otherwise full loan must be returned by 10.08.2023.
07.06.2023 - update from Lande:
A notice has been issued on 07.06.2023. Outstanding payments must be repaid by 21.06.2023., otherwise the loan in full must be returned by 05.07.2023. If the loan in full will not be returned, LANDE will issue a notice of withdrawal from the contract and submit a debt recovery application in court.