Frequently asked questions

· Fill in application form, including contact info
· Receive offer with guaranteed credit line limit from 800-1000 EUR/ha
· Signing of contract
· Start using credit line, get funding as required

To be approved for credit line, customer must:
· Be a company/individual company
· Must have land property for collateral

By applying to credit line we can offer financing from €5 000 to € 10 000 000 from 1 day up to 10 years.

Company can apply for a credit line if it needs:
· new felling site development and buying
· extra funds for invoice financing
· company development
· financing machinery
· financing a property
· working capital
· unexpected expenses
· collateral in public tenders
· cash flow balancing
or other plans.

Company must exist for at least 3 months before applying.

credit line guaranteed limit is minimal amount that we are ready to give against land collateral without deeper appraisal.
In most of Latvia it is from 800 EUR/ha, furthest Eastern Latvia - from 650 EUR/ha.
Maximum credit line limit amount is decided after our specialist's appraisal. Credit line limit can reach up to 7000 EUR/ha.

Before release of funds any/all properties that is used to secure the credit line must have mortgage claim registered in land registry.
Full amount of

You will need such documents:

Nostiprinājuma lūgums, we will prepare it;
Credit line contract, you will get it from us together with offer;
Mortgage agreement, part of credit line contract;
In cese of 3rd party involment - related parties agreement/permission.
Power of attorney proof documents in case power of attorney is used.

Latest info about required documents you can find

PATA Finance only takes first order mortgage as a collateral. Any forest land or agricultural land can be a collateral, even uncultivated agricultural land with bushes.
We do not accept swamps and water bodies as a collateral.

First order mortgage means that property is currently without mortgage and it covers partial or full credit line limit.

Yes, that is part of credit line, under a single contract we can take multiple collaterals, limit of credit line is calculated from total property value.
Adding or removing properties is easy process at Patafinance.lv customer cabinet. It is possible even with partially used credit line.

No, PATA Finance does not take properties with pre-existing mortgage claims as a collateral.

However, it is possible that remaining financial obligations to mortgage claim owner are less that approved credit line limit
and it is possible to remove existing claim form the property by using credit line.

Mortgage can be removed from property after full or partial (in case of multiple collaterals) repayment of credit line. It depends from properties mortgage claim's amount.

Documents to remove are sent to land registry, usually this process takes 3-5 days.

Yes, partial repayment and removal of oly one mortgage claim is possible.

If credit line has multiple collaterals and unused limit
is more than largest claim that is considered for removal.

When removing a claim limit of credit line will be decreased by amount that was approved for this property.

You can apply for payout via web system, phone or email with your PATA Finance contact.

Usually it takes 1 workday, in some cases it takes only a few minutes.

You can pay back credit line via bank transfer at any time.
Important! When paying remember to add agreement number so we can identify your payment.
Payment info you can find in contract

Approved credit line can be used again when needed. During this time we charge no extra interest or fees.

Yes and we do not charge anything extra for that.

· Application fee - free
· Interest rate – from 0.83% mēnesī
· Origination fee - free
· Account service fee - free

We do not charge interest for unused credit limit.

To receive funds no fees need to be paid - we cover notary and land registry fees to avoid overburdening you with fees.

For fredit line we chanrge only interest on used amount.
The only fee might be removal of mortgage claim if credit line usage interest was not sufficient to cover our expenses.

Loan application should contain company bank account that is used for conducting business. we will transfer used funds of credit line to this account.

PATA Finance part of PATA group companies, one of largest vertically integrated companies in Baltic region with wide forestry operations in Latvia.
PATA Finance was created to fill specialised financing needs for forestry industry from company that understands forestry that can provide funds fast and efficiently.

PATA Finance offers credit line to companies up to 10 000 000 EUR with term up to 10 years secured by land property mortgage.

PATA Finance working hours:

workdays from 9:00 till 18:00.
Weekends and bank holidays - time off.

PATA Finance can be contacted by calling +371 26 677 726 or emailing to info@patafinance.lv