An experienced farmer founded an agricultural company in 2018 and now specializes in dairy farming. The farm is located in Elena, a region in Bulgaria, where currently 12 dairy cows and buffaloes, as well as 42 sheep are grazing. The company currently rents 20 hectares for its agriculture activities.

The farmer has ambitious plans to grow and develop the farm. One of them is to receive a bio-certificate, which will allow selling the dairy products as organic. Currently, the company is in the transition period to receive the bio-certificate.

Before establishing a company, the farmer has completed the EU modernization of agricultural holdings, which helps to adopt new processes to make the work more efficient. Now a new project under for the purchase of equipment and construction of a building has been confirmed. A contract has been signed with the state fund of agriculture and once implemented, the farmer will receive a subsidy of 50% of the cost. Therefore, the farmer is borrowing to cover the remaining part of the purchase of the equipment,  the loan will be secured by a pledge on the equipment itself.

This is not the farmer's first project on the HeavyFinance platform - he previously borrowed 2 loans (BG0000309, BG0000369) with the active balance of 24 600 €.