Lande adds new features to re-opened secondary market

Agricultural lending platform Lande has added a number of new features to its secondary market, which re-opened last month following a six-month hiatus.

Users can now select projects based on their interest rates, loan term, and loan-to-value. They can also choose their preferred country, collateral type, schedule type, and payment delay interval.

“With trading on the secondary market having resumed last month and now going at full speed, our tech team released a new set of filters to make it easier for investors to browse and select available projects,” said a Lande spokesperson.

Read more: Lande reduces minimum investment threshold to €100

“The investor relations team reported a 10 per cent decline in the number of customer support tickets submitted in June compared to the previous month, with no significant issues generating complaints and/or clarifications.”

In its latest monthly review, Lande revealed that €723,731 (£610,023.36) was issued to agricultural borrowers across 35 projects in June.

Lande’s investors earned a total of €74,100 in interest last month, bringing the all time total to €1.58m.

Repaid principal reached €301,650 in June, to make an all-time total of €9.037m.

Read more: Lande reopens secondary market

“Lande credit teams on all our markets have continued to focus on selecting low-risk clients that can provide high-quality collateral, with land/property and machinery being prioritized over higher risk categories like cattle, harvests or financial collateral – as these tend to be more unpredictable and more difficult to evaluate,” added the company spokesperson.

The platform reported that 63 projects are currently in default, representing 5.9 per cent of the overall portfolio. Among these 63 projects, 49 are currently in the most advanced stages of legal and recovery proceedings with either peaceful settlements or final court decision for enforcement issued.

Read more: Lande receives EU crowdfunding licence