À propos
Investment in a fractional loan note on the Debitum platform (Latvia) backed by a pool of business loans originated by the Latvian Forest Development Fund. Duration of 38 months at 15% p.a. Amount of 200,000 EUR. The platform operates as a P2P marketplace regulated in Latvia.
Plateforme · 21.0/25
A1 · Statut réglementaire
8.0/8✓ max
- Licenced by Latvijas Banka / FCMC since September 2021 under Latvian ECSP regime
- Calibration: Lande Finance (ECSP Latvijas Banka) = 8 points
- Equivalent status applied
A2 · Track Record
6.0/6✓ max
- Default 0% since 2019 (6/6)
- Delay rate 0% (6/6)
- Non-deviating yield reported (6/6)
- A2 = (6×0.5 + 6×0.3 + 6×0.2) = 6/6
A3 · Rigueur de sélection
2.0/4
- Process mentioned (post-2023 improvements), no published selection rate nor detailed committee description
- 2 points by default
A4 · Santé financière
3.0/4bon
- Portfolio doubled in 2024, AUM €27.4M, 0% default
- Independent platform >3 years, no distress signal
- Concern of forestry sector concentration (March 2026) mild
A5 · Protection investisseurs
2.0/3
- Active Latvian ECSP → 1 mandatory point (reflection period / continuity plan)
- Buy-back guarantee at 90 days documented → 1 point (liquidity mechanism)
- Segregated accounts not explicitly confirmed → 0 points
Projet · 37.0/75
(40.0 brut, red flags −3)
B1 · Instrument & Structure
7.0/10
B1.1: 5/5 - Fractional loan note, fixed rate, clear Latvian ECSP law
B1.2: 1/3 - Direct loan from originator, Latvian law but non-dedicated société dédiée (SPV)
B1.3: 1/2 - Rank not formally registered, no documented senior debt
B2 · Opérateur & Track record
7.0/15faible
B2.1: 2/4 - Entity named LFDF, directors not identified by name in the file
B2.2: 3/5 - Recent NBFI, active portfolio ~52M€, Latvian forestry sector
B2.3: 2/3 - Active presence on Debitum, €100K repayment effected
B2.4: 0/3 - 86% platform concentration, insufficient financial information to validate solvency
B3 · Garanties & Sûretés
5.0/15faible
B3.1: 2/9 - Pool of underlying loans, no documented real security registered on originator side
B3.2: 1/4 - LFDF balance sheet not provided, assessment impossible
B3.3: 2/2 - LFDF is a licenced active NBFI >2 years, constitutes institutional partner per SME-NBFI rule
B4 · Structure financière
8.0/15
B4.1: 3/5 - Diversified SME loan pool, estimated taux de couverture de la dette 1.5-2.0 without precise data
B4.2: 2/4 - NBFI structure with partially documented equity
B4.3: 2/4 - No stress test, Loan-to-Value (ratio prêt/valeur actif)/Loan-to-Cost (ratio prêt/coût total) unavailable
B4.4: 1/2 - NBFI margin not explicitly communicated
B5 · Pré-commercialisation
6.0/10
- Active portfolio ~52M€, partial documented diversification, active history on Debitum since 2025
- Notable forestry sector concentration but regular activity confirmed
B6 · Permis & Maturité
5.0/5✓ max
- NBFI licenced in Latvia, established activity >2 years, legal documents in order per available information
- Central banking licence validated
B7 · Marché & Localisation
2.0/3
- Latvian SME lending market growing (+18.6% in 2025), credit-to-GDP 29% (low EU)
- Risks: GDP slowdown 2026 (1.4%), inflationary pressure, forestry/export sector exposed
Points forts
Debitum ECSP licenced platform, 0% historical default since 2019.
LFDF is the largest originator on Debitum, active portfolio ~52M€.
Latvian SME market in strong growth, credit-to-GDP very low (potential).
Partial repayment of €100K effected, sign of servicing capacity.
Risques identifiés
Extreme concentration: LFDF represents 86% of Debitum portfolio - major concentration risk.
Security on underlying loans not documented; LFDF balance sheet not communicated to investors.
LFDF managers not nominally identified in the available file.
Forestry sector exposed to geopolitical risks and commodity volatility.
Long duration (37 months) at 15%/year with no documented registered real security.
Voir toute l'analyse Debitum →
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