Farmers lately focused on farm development and modernization after finishing the winter crop sowing season. In October, we invited investors to contribute to the implementation of 48 agricultural investment projects, bringing together almost 1.4 million investments in agricultural holdings and modernization.
Besides, last month brought more projects of Bulgarian farmers on the platform. Find out why we have devoted more time to this market in this report.
HeavyFinance Investor Day
Last month, we invited investors to attend a live discussion with Laimon Noreika, Head of HeavyFinance, and Filip Mutafis, Country manager Bulgaria. Investors were also actively involved in the discussion and learn even more about the loan recovery process, investor fees, platform regulation, and the loan disbursement process. If you did not have the opportunity to listen to the live broadcast, you can watch its recording here.
Farmers in Bulgaria
The HeavyFinance team is in constant contact with farmers who have already received funding and those who are still considering it. In October, we visited three Bulgarian farmers to learn more about their everyday lives. We were pleasantly surprised by the farmers’ unique ambitions and learned why they need our product. Agri-entrepreneurs who have been developing their own farm for many years have clear visions of how modernization will save money in the long run, allowing them to generate not only more revenue, but also to use it purposefully for further investments in agricultural holdings.
Key results from October 2021
Amount of loan issued: €1,4M
During October HeavyFinnace issued 48 loans*.
*Fact that a loan is issued is the date the loan is financed by investors.
The cumulative amount issued: 11,9 million euros
* The amount of loans issued was calculated including cancelled projects from which investors earned interest.
The number of registered investors: 257 new investors registered during the previous month.