April showed that farmers are actively seeking funding before the main work on the farms, therefore, you had more investment opportunities, in comparison to the beginning of spring. We are glad that April was active not only for farmers but also for investors – some projects got fully funded in 20 minutes and even less. We feel encouraged and inspired by you to provide you with more opportunities to invest in agricultural loans.
In April, the first projects with an individual state guarantee appeared on the HeavyFinance platform. We see a lot of investor interest in these loans, therefore we can only assure you that there will be more loans with an individual guarantee on the platform.
Besides, last month we introduced a new condition that will resolve the delay of interest calculation. You can learn more about this change, as well as the main financial results, in this report.
The beginning of interest calculation has changed
Farmers used to start repaying the loan right after submitting all the necessary documents and receiving the money. Seeing that in some cases registration of assets or signing papers for a first-hand mortgage can take quite some time, we decided to set a time limit.
Acting in favour of investors, we have introduced a condition that the repayment period begins 16 business days after the project is fully funded. Also, if all the necessary documents are submitted earlier, the repayment period will start right after issuing the loan.
This solution will prevent delays, and investors will receive interest payments earlier.
Key results from April 2021
Amount of loan issued: 880.000 euros
During April HeavyFinnace issued 21 loans*.
*Fact that a loan is issued is the date the loan is financed by investors.
The cumulative amount issued: 4,8 million euros
Number of registered investors: 193 new investors have registered during the previous month. The HeavyFinance investor community has grown to 1799 investors.