Another record month on the HeavyFinance platform. The results show that farmers are using the cold season to implement their future plans.
Grain farmers have been particularly active, since they often hold on to their harvests until mid-winter, when crops prices are higher, thus ensuring higher incomes. Naturally, this strategy limits the availability of working capital, especially when it comes to modernizing the machinery fleet, which requires more investment. After the busy season farmers devote more time and resources to speeding up and optimizing the farm’s processes. That is why last month we issued 58 agricultural loans which reduced the sector\’s financing gap by more than €1.59 million. In addition to a record number of loans issued in November, we have also increased our focus on growth – the change of the website domain and the first institutional investor joining the site are proof that we are firmly moving towards filling the financing gap in the agricultural sector.
HeavyFinance domain change
The first institutional investor joins the HeavyFinance platform
HeavyFinance\’s aim to grow the number of people interested in investing in agriculture is now joined by the first investment fund, which joined the active investor community. The new investor, the Swiss-based i2 Group, has already invested over €500,000 on the platform since the signing of the agreement. It is important to note that due to the rapid growth of HeavyFinance, the institutional fund should not affect the interest rate changes on the platform.
Key results from November 2021
Amount of loan issued: €1,59M
During October HeavyFinnace issued 58 loans*.
*Fact that a loan is issued is the date the loan is financed by investors.
The cumulative amount issued: 13,5 million euros
*The number of loans issued was calculated including cancelled projects from which investors earned interest.
A number of registered investors: 165 new investors have registered during the previous month.
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