Posted by LANDE has published its performance report for August. According to the report, 63 projects worth a total of €1.7 million were financed across its four core markets, corresponding to an average of €27,038 per project. Compared with the previous month, this represents a decline of almost 19%, which LANDE attributes to seasonal factors, as farmers were busy with the harvest.
The average interest rate also declined, falling from 12.29% to 10.80% (excluding cashback campaigns and other bonuses). This represents a drop of almost 1.5 percentage points within a single month.
The collateral figures also reveal an interesting development. Despite repeated announcements that the platform is increasingly focusing on land- and machinery-backed loans, the share of such loans declined in two of the four markets: from 95% to 84% in Latvia and from 100% to 93.1% in Poland.
The repayment situation has also deteriorated to an extent. All delinquency categories increased compared with the previous month, with the strongest increase recorded in the 31 to 60 days category (+12 to 37 loans). The number of loans that are more than 90 days overdue now stand at 115 (+3), representing around 10.5% of the active portfolio.