Forest Project 20260099 — 15.5%/an · 12 mois

Plateforme · 2.0/25

A1 · Statut réglementaire 1.0/8faible

FCMC regulation (Latvia) claimed and ECSPR compliance declared, but no registration verification obtained from FCMC or ESMA register
Without independent confirmation, application of minimal level: compliance declaration unverified

A2 · Track Record 0.0/6faible

No default rate, delay rate or realised return statistics published or verifiable
Penalty −2 pts for total absence of published data applied; base already at 0
Final score 0/6

A3 · Rigueur de sélection 0.0/4faible

No documented information on forest project selection process, no selection rate published, no credit committee identified in available sources

A4 · Santé financière 1.0/4faible

A5 · Protection investisseurs 0.0/3faible

ECSP/agrément AMF licence not confirmed: automatic minimum rule of 1 pt does not apply
No investor protection mechanism (segregation, secondary market, reflection period) documented or verifiable
Score 0/3

Projet · 16.0/75 (19.0 brut, red flags −3)

B1 · Instrument & Structure 4.0/10faible

B1.1: 2/5 - Instrument not specified, mention of 'loan' without clear documentation

B1.2: 1/3 - Latvian law applicable, non-dedicated société dédiée (SPV) structure, poorly documented

B1.3: 1/2 - Priority rank claimed via commercial register registration, not formally registered as mortgage

B2 · Opérateur & Track record 3.0/15faible

B2.1: 1/4 - FF Forest named, manager 'Morgan Yvon Charles D.' partially identified, no verifiable public profile

B2.2: 0/5 - No documented forestry operations delivered, no verifiable history

B2.3: 0/3 - No history on this platform or on others

B2.4: 2/3 - No procedure identified but balance sheet not available

B3 · Garanties & Sûretés 4.0/15faible

B3.1: 4/9 - Security over forest land registered at Latvian Commercial Register; value not specified, notarised rank not confirmed

B3.2: 0/4 - Guarantor financial soundness not evaluable, no financial data for FF Forest available

B3.3: 0/2 - No banking partner identified; project <€2M, no RF2

B4 · Structure financière 3.0/15faible

B4.1: 0/5 - Loan-to-Value (ratio prêt/valeur actif) not calculable, no forestry asset valuation provided; prudential penalty applied

B4.2: 0/4 - Operator equity contribution not documented

B4.3: 2/4 - Loan-to-Value (ratio prêt/valeur actif) unknown, no stress test; very small size (€50K) reduces exposure

B4.4: 1/2 - Agricultural resale and CO2 credits business model plausible but margins not quantified

B5 · Pré-commercialisation 1.0/10faible

B6 · Permis & Maturité 2.0/5faible

Forest asset registered at Latvian Commercial Register (positive element)
No information on forestry operation licences, cutting permits or complete regulatory status
Start-up activity, partial documents

B7 · Marché & Localisation 2.0/3

Latvian agricultural market stable, harvest growth +15.5% in 2024, solid dairy exports
Risks: rising input costs (fertiliser, energy), inflation 3.6% forecast 2026
Established regional market, score 2/3

Points forts

✓Forest assets registered at Latvia Commercial Register as collateral.

✓Early exit mechanism after 6 months documented.

✓Latvian agricultural market in growth, active forest sector.

✓Limited amount (€50 000) reduces absolute exposure risk.

Risques identifiés

!FCMC/ECSP licence not independently confirmed - platform potentially unregulated.

!No performance statistics or repayment history published by FF Forest.

!Forest asset value not communicated, LTV not calculable, security not evaluable.

!Operator without documented delivered operations, sector experience not verifiable.

!Rate 15.5%/year without confirmed registered mortgage - risk/return ratio highly unfavourable.