First loan with interest paid in wine meets with success

Monday May 14 2018 by Vitisphere

The sum lent by wine lovers will enable Château Clarisse to finance a wine storehouse as well as to bear the cost of storing inventories.The sum lent by wine lovers will enable Château Clarisse to finance a wine storehouse as well as to bear the cost of storing inventories. - Photo credit : Château Clarisse

100,000 euros is the amount of the loan raised by Château Clarisse in Puisseguin Saint-Emilion. The sum, intended to finance cash requirements for carrying inventories as well as the purchase and renovation of a storage cellar, was raised by... wine lovers. Château Clarisse called on Winefunding, a crowdfunding platform specialising in wine, to carry out this new type of loan. Interest on the loan will be paid in kind, i.e. in cases of wine.  It is being hailed as a first in the world of wine.

In concrete terms, "this is a redeemable bond with a gross interest rate equivalent to 10% per annum for the lender on the basis of public prices. Of course, the cost is much lower for the estate in the case of an interest payment in kind (about 3 to 5% per year depending on the cost price of the bottle)”, explains Maxime Debure, Winefunding's founding president. Debure claims this first experiment of loans with interest in wine is a positive one. “Wine lovers are ready to invest large sums, between 4,000 and 9,000 euros, and to receive interest in kind”.

 

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