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Latvian Forest Development Fund II — LV0000113066
DE
Debitum Business lending Financé
Ce projet est clôturé. L'analyse ci-dessous reflète les informations disponibles au moment de la souscription et n'a pas été mise à jour.

Latvian Forest Development Fund II — LV0000113066

Strong
70
score / 100
Yield
10.0%/yr
Duration
12 months
Min. ticket
—
Amount raised
200 k€
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À propos

Investment in fractional note on Latvian Debitum platform, issued by Latvian Forest Development Fund II (LFDF2). Underlying is a pool of professional loans. Rate of 10% per annum over 12 months, internal rating A. Amount raised: EUR 200,000.

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 · 49.0/75 (54.0 brut, red flags −5)
B1 · Instrument & Structure 8.0/10bon
B1.1: 5/5 - Fractional note on pool, clear Latvian ECSP law
B1.2: 2/3 - Direct loan originator, EU-recognised Latvian law
B1.3: 1/2 - Rank not formally registered, no identified senior debt
B2 · Opérateur & Track record 10.0/15
B2.1: 3/4 - LFDF appointed, manager not publicly identified
B2.2: 4/5 - NBFI active, EUR 52M portfolio, >2 years, first repayment confirmed May 2025
B2.3: 2/3 - 1 note repaid without incident on Debitum (May 2025)
B2.4: 1/3 - No proceedings identified but balance sheet not verifiable
B3 · Garanties & Sûretés 9.0/15
B3.1: 5/9 - Joint and several guarantee from LFDF structure on pool; no mortgage or pledge documented
B3.2: 2/4 - LFDF EUR 52M outstanding, equity not verified, gearing unknown
B3.3: 2/2 - NBFI licensed active >2 years, institutional criterion met
B4 · Structure financière 13.0/15bon
B4.1: 5/5 - Estimated taux de couverture de la dette >2.5 (portfolio EUR 52M, 10% yield, 0% declared loss rate)
B4.2: 4/4 - NBFI capitalised with committed equity (origination structure)
B4.3: 3/4 - 0% default history since 2019 supports implicit stress
B4.4: 1/2 - Margin not published, regular activity documented
B5 · Pré-commercialisation 6.0/10
  • LFDF active portfolio diversified (Latvian SMEs), EUR 52M outstanding, solid history
  • Client diversification not precisely documented
  • 6/10 (SME-NBFI: active portfolio, adequate diversification, partial history)
B6 · Permis & Maturité 5.0/5✓ max

LFDF established activity >2 years, valid NBFI licences in Latvia, legal documents in order

B7 · Marché & Localisation 3.0/3✓ max
  • Latvian SME lending market growing (+18.6% in 2025), low NPL, credit-to-GDP 29% (strong potential)
  • LFDF positioned on underserved segment
⚠ Alertes détectées · −5 pts déduits
Concentration débiteur élevée −5 pts

Debtor concentration - LFDF represents 86% of total Debitum outstanding (~EUR 52M/EUR 60M), platform concentration >80% on single originator - deduction -5 points.

Points forts
✓LFDF first repayment confirmed May 2025, without incident.
✓Latvian SME lending market in strong growth (+18.6% in 2025).
✓Debitum platform ECSP licensed, 0% default since 2019.
✓Rate of 10% per annum compliant with SME-NBFI standard.
✓LFDF portfolio EUR 52M active, NBFI licensed >2 years.
Risques identifiés
!LFDF represents 86% of total Debitum outstanding - extreme platform concentration.
!LFDF balance sheets and equity not published, gearing unknown.
!Concentrated forestry sector exposure, flagged as concern (March 2026).
!LFDF managers not publicly identified in file.
!Latvian stagflation risk 2026: growth slowed to 1.4%, inflation 3.6%.
Score card
Score card — Latvian Forest Development Fund II — LV0000113066
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