New Envestio project – Fish processing for export market expansion 3

Envestio informed today that a new investment opportunity is available at the portal to all registered participants.

By introducing project “Fish processing for export market expansion 3″, Envestio continues successful cooperation with representative of the food industry.

The loan is fully secured by commercial pledge and personal guarantee of the main beneficiary of SENGA SIA.

As usual, you can invest any amount starting from 1 EUR. Minimum deposit to the investment account is EUR 100.

If you invest for the first time at Envestio don’t forget that you can get € 5 and a 0.5% cashback bonus for the investments made in the first nine months (270 days), more details HERE.

Investment opportunity

High-yielding investment in fish processing sector, financing of production of canned and smoked goods.
21.5% planned annual return.
Investment principal buyback is available at 5% penalty rate.

Project description

The Latvian company SENGA SIA (www.senga.lv) is functioning on the market of processing of fish and other sea products since the year 1993. Raw products are processed according to EU quality standards and sold in cans or smoked on the local market as well as exported outside the country to Europe and Asia.

SENGA SIA produces a wide assortment of products that includes traditional Latvian sprats in natural oil, variety of pates, canned salmon, trout, etc. No GMO is added to the produce in order for that to comply with EU and CIS health standards. Altogether company produces 24 different types of fish products.

The company owns and uses 2 its own production facilities, which are already partially refurbished with the help of European Union financing for development (it is planned to finalize refurbishment works in second half of 2019), and currently employs more than 50 people. Overall production capacity of the company is around 1-1,3 million cans per month. 95% of the produced goods are exported to Kazakhstan, Poland, Armenia, Azerbaijan, Estonia, and other countries.

SENGA SIA is looking to attract EUR 100,000 big business development/working capital financing with the help of Envestio participants, which is necessary for lauching an additional production cycle in order to complete new orders and receive extra profits.

Market

The fish processing industry in Latvia historically has been one of the important parts of the country’s economy. Canned fish products with “Made in Latvia” mark on them are well-known for their good taste and high quality.

Prior to 2015 the main export direction for most Latvian producers of canned fish products was Russia and CIS countries. In 2015, following the change of the health standards for imported fish food products in Russia, Latvian producers started to look also to the Western direction, which resulted in entering the markets of countries like Germany, Spain, UK, and even USA and Australia. As a result, in 2017 canned fish products made in Latvia were exported to 56 countries. Total value of the exported goods in 2017 exceeded EUR 73 mln, which is a 11,6% increase in comparison to 2016.