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Latvian Forest Development Fund — LV0000112654
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 — LV0000112654

Strong
67
score / 100
Yield
10.4%/yr
Duration
4 months
Min. ticket
—
Amount raised
200 k€
Invest →
À propos

Investment in a fractionalised note on the Latvian platform Debitum, backed by a pool of business loans originated by the Latvian Forest Development Fund (LFDF). Short duration of 4 months (July-November 2026), rate of 10.4% p.a. The underlying asset is a portfolio of business loans with no sector detail communicated.

Plateforme · 17.0/25
A1 · Statut réglementaire 5.0/8
  • FCMC investment licence (Latvia) obtained in September 2021
  • Recognised EU regulator, but investment licence ≠ explicit ECSP passport
  • Recognised EU equivalent → 5 points
A2 · Track Record 5.0/6bon
  • Default 0% → 6/6
  • Delay >90 days 0% → 6/6
  • Actual return vs announced return not disclosed → 0/6
  • A2 = (6×0.5)+(6×0.3)+(0×0.2) = 4.8, rounded to 5
  • Caveat: statistics cover ABS, not underlying loans
A3 · Rigueur de sélection 2.0/4

Transition to ABS model involves a structured selection process (FCMC licenced), but selection rate not published and process poorly detailed publicly → 2 points

A4 · Santé financière 3.0/4bon
  • Independent platform operational for >3 years (2021+), active in 2026, no platform distress signal identified
  • No known institutional shareholder → 3 points
A5 · Protection investisseurs 2.0/3
  • Investor protection EUR 20,000 provided by Latvian law (1 regulatory point)
  • FCMC licence implies continuity plan (1 point)
  • Secondary market or segregated escrow not confirmed → 0 points third criterion
Projet · 50.0/75
B1 · Instrument & Structure 7.0/10
B1.1: 5/5 - obligation (loan note) at fixed rate, clear Latvian law
B1.2: 1/3 - issuer is the direct originator, not a dedicated société dédiée (SPV), Latvian law unfamiliar
B1.3: 1/2 - rank not explicitly subordinated but not formally registered
B2 · Opérateur & Track record 9.0/15
B2.1: 2/4 - LFDF named, identifiable entity, managers not detailed in the file
B2.2: 4/5 - Latvian regulated NBFI, assets >2 years, EUR 52M portfolio, documented repayment history
B2.3: 2/3 - first note repaid in May 2025 without incident
B2.4: 1/3 - balance sheet not communicated, partial verification impossible
B3 · Garanties & Sûretés 9.0/15
B3.1: 5/9 - pool of underlying SME loans; guarantees at individual loan level not detailed; LFDF joint and several guarantee implicit
B3.2: 2/4 - solvent NBFI entity, balance sheet not communicated, partial information
B3.3: 2/2 - LFDF is NBFI licensed by Latvian regulator, constitutes the institutional financial partner
B4 · Structure financière 11.0/15
B4.1: 4/5 - licensed NBFI, estimated taux de couverture de la dette 2.0-2.5 on basis of EUR 52M portfolio, solid repayment history
B4.2: 3/4 - LFDF equity capital not communicated, active NBFI structure
B4.3: 2/4 - no documented stress test but 4-month duration and diversified portfolio limit risk
B4.4: 2/2 - established NBFI activity, stable margins implicit
B5 · Pré-commercialisation 7.0/10
  • Active portfolio of EUR 52M, >EUR 8M financed via Debitum, correct diversification across Latvian SME loans
  • Portfolio data partially detailed, documented repayment history - 7/10
B6 · Permis & Maturité 5.0/5✓ max

Established NBFI activity for >2 years, valid Latvian regulator licence, all legal documents in order - 5/5

B7 · Marché & Localisation 2.0/3
  • Latvian business credit market in growth (+18.6% in 2025), strong SME demand, credit/GDP low (29%)
  • Stagflationary risks and 2026 slowdown temperate - 2/3
Points forts
✓LFDF portfolio of EUR 52M with confirmed repayment history on Debitum
✓First note repaid without incident in May 2025
✓Latvian SME market in strong growth, high structural demand
✓Rate 10.4% p.a. within SME-NBFI norm, short 4-month duration
✓NBFI licensed by Latvian regulator, qualified institutional partner
Risques identifiés
!LFDF financial balance sheets not communicated, guarantor strength not verifiable
!Guarantees on individual underlying loans not detailed in the file
!High concentration: LFDF represents 86% of Debitum portfolio
!Latvian GDP slowdown forecast at 1.4% in 2026, inflationary pressures
!Exposure to forest/Latvian SME sectors facing geopolitical disruptions
Score card
Score card — Latvian Forest Development Fund — LV0000112654
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