Lande reopens secondary market
Agricultural lending platform Lande has relaunched its secondary market, six months after pausing transactions.
However, the platform has implemented a few new rules for investors in order to ensure the safety and integrity of the investments.
Investors will no longer be allowed to split investments under the value of €100 (£84.58), but for loans starting with €100, investors have the option to split into one transaction of €50 and one or multiple transactions for the remaining amount.
Read more: Lande receives EU crowdfunding licence
Resales are only being made available for current loans, so any investor who wants to resell an investment previously purchased on the secondary market must wait until a new current payment is processed before it can be resold. If a loan is delayed by one or more 30-day intervals, investors will need to wait for the borrower to catch up with all delayed and current payments in order to be able to resell the investment on the secondary market.
No sales can be made before a loan issuance, and no sales can be made until after the final scheduled payment.
Full bullet loans have been excluded from the secondary market and cannot be sold, as they have unique repayment terms that necessitate direct management.
Finally, loans that are in default status cannot be sold on the secondary market. If a loan that is already listed on the secondary market goes into default, the ‘buy’ option will be deactivated.
Read more: Lande completes €1m in loans in March
“We’re excited to announce the relaunch of the Lande secondary market, as a result of our IT team’s hard work to fix underlying data issues that had posed risks to investor balances in the past,” said a Lande representative.
“The work to reopen the secondary market was fully focused on ensuring that the amounts involved are calculated and displayed correctly and that investors do not run into any further transaction-related issues.”
Lande said that it will gradually review investor activity and feedback as secondary market transactions resume and may introduce new features based on user demand.
Read more: Lande reduces minimum investment threshold to €100
