Latvian Forest Development Fund — LV0000113652 — 11.5%/an · 9 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 6.0/10

B1.1: 3/5 - Note of fractional loan, contractual documentation absent from file

B1.2: 2/3 - Latvian EU law, emission structure not detailed

B1.3: 1/2 - Rank not documented, no known senior debt

B2 · Opérateur & Track record 2.0/15faible

B2.1: 1/4 - Named entity, no manager identified

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

B2.3: 0/3 - Platform history not communicated

B2.4: 1/3 - Register verification not performed, provisional penalty

B3 · Garanties & Sûretés 0.0/15faible

B3.1: 0/9 - No guarantee or repurchase documented

B3.2: 0/4 - No guarantor identified

B3.3: 0/2 - NBFI licence of originator not documented. RF8 not applicable as amount below 500 K€

B4 · Structure financière 0.0/15faible

B4.1: 0/5 - taux de couverture de la dette not calculable, no financial data

B4.2: 0/4 - Originator equity not communicated

B4.3: 0/4 - No stress test

B4.4: 0/2 - Margin and taux de couverture de la dette unknown

B5 · Pré-commercialisation 1.0/10faible

Underlying portfolio data (number of clients, concentration, history) not communicated

B6 · Permis & Maturité 0.0/5faible

No information on originator legal status, seniority or licences; sector not disclosed

B7 · Marché & Localisation 1.0/3faible

Score adjusted thanks to live data: Latvian SME credit in growth (+18.6%), but GDP forecast at 1.4% in 2026 and stagflation risk

Points forts

✓Platform regulated in Latvia, operational since 2021.

✓Debitum internal rating A assigned to note.

✓Short duration of approximately 9 months.

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

Risques identifiés

!No guarantee, no repurchase mechanism documented in file.

!No originator manager identified; NBFI licence not verified.

!No financial data, no DSCR, no underlying portfolio communicated.

!News research inconclusive; manual verification of incidents required.

!Predicted slowdown in Latvian GDP in 2026; forestry/agricultural sector under pressure.

⚠ 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.