Latvian Forest Development Fund — LV0000113496 — 12.5%/an · 18 mois

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 · 10.0/75

B1 · Instrument & Structure 5.0/10

B1.1: 3/5 - Fractional note on pool, contractual documentation absent from file

B1.2: 1/3 - Pool/note structure not described, applicable law not specified

B1.3: 1/2 - Unsecured, no known senior debt

B2 · Opérateur & Track record 2.0/15faible

B2.1: 1/4 - Entity named, no manager identified

B2.2: 0/5 - No financial history or NBFI status documented

B2.3: 0/3 - History on Debitum not provided

B2.4: 1/3 - Verification of Latvian register not performed, caution warranted

B3 · Garanties & Sûretés 0.0/15faible

B3.1: 0/9 - No guarantee or joint and several guarantee documented

B3.2: 0/4 - No guarantor identified

B3.3: 0/2 - NBFI licence of originator not documented

B4 · Structure financière 0.0/15faible

B4.1: 0/5 - taux de couverture de la dette not provided

B4.2: 0/4 - Equity of originator unknown

B4.3: 0/4 - No stress test

B4.4: 0/2 - Margin and taux de couverture de la dette not provided

B5 · Pré-commercialisation 1.0/10faible

Data on underlying portfolio (clients, concentration, history) not provided

B6 · Permis & Maturité 1.0/5faible

Age, licences and legal documents of originator absent from file; partner referenced on Debitum

B7 · Marché & Localisation 1.0/3faible

Latvian SME credit in growth (+18.6% in 2025), but GDP growth forecast at 1.4% in 2026 and forestry sector not specified

Points forts

✓Platform regulated in Latvia, no published default on its ABS.

✓Debitum internal rating A assigned to originator.

✓Yield of 12.5% compliant with SME-NBFI standard.

✓Latvian SME credit market in growth, low credit penetration.

Risques identifiés

!No guarantee or joint and several guarantee documented on this note.

!No originator officers identified in the file

!No financial data on originator or underlying portfolio.

!Business sector not specified; NBFI status of originator not confirmed.

!Latvian economic slowdown forecast for 2026 (GDP at 1.4%, inflation at 3.6%).

⚠ Avertissement sur les risques

Investir en crowdfunding comporte un risque de perte partielle ou totale du capital, ainsi qu'un risque d'illiquidité. Selon le baromètre France FinTech / Forvis Mazars 2025, 25 à 30 % des projets accusent un retard de plus de 6 mois et 4 à 6 % entraînent une perte définitive. Ne placez jamais plus de 5 à 10 % de votre patrimoine en crowdfunding et diversifiez sur au moins 10 projets. CrowdPickr est un service d'information indépendant, non agréé en tant que conseiller en investissement. Les analyses présentées ne constituent pas un conseil en investissement personnalisé.