Lande reduces minimum investment threshold to €100

Lande has reduced its minimum investment threshold from €250 (£210) to €100, following the completion of a major site upgrade.

The agricultural lending platform implemented the change at the end of May, after upgrading its advanced auto-invest function to give investors more ways to filter their preferred loans.

Investors who follow the advanced auto-invest strategy can now filter their projects by interest rate, term time, loan-to-value, collateral type, country and schedule type.

Read more: Lande completes €1m in loans in March

In an update to investors, Lande revealed that 130 new investors joined the platform in May.

Investors earned €96,396 in interest last month. To date, Lande’s investors have earned a total of €1.51m in interest.

The total amount issued to farmers in May was €973,135 across 26 projects.

The majority of those projects were based in Latvia, with the remaining loans based in Lithuania and Romania.

By the middle of June, out of a total of 1,034 projects funded through the Lande platform, 451 had been repaid in full while 583 were active.

Read more: Lande to relaunch secondary market by end of Q2

“Credit teams across all Lande markets have been focused on selecting low-risk clients who can provide high-quality collateral, with land/property and machinery being prioritized over higher risk categories like cattle, harvests or financial collateral – which tend to be more difficult to measure and more unpredictable,” said a Lande spokesperson.

“All loans issued in May, in all three countries, were backed by either land/property or machinery.”

A total of 54 projects are currently in default across Lande,  with 35 of these projects in the most advanced stages of legal and recovery proceedings.

Read more: Lande receives EU crowdfunding licence