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Maria Nikolova officially registered as a farmer in 2012, she has been developing her farm ever since. Now, she runs a greenhouse farm where mainly tomatoes and cucumbers are grown.
In 2019, the businesswoman was granted a 1 million euros loan from the bank under the EU funding scheme for the construction of a 2,000 square meter greenhouse with hydroponic drip together with a cold storage facility to keep her fruits and vegetables fresh, a heating installation and a packing room.
To date, the remaining principal of the loan is € 372K (BGN 728K). After 2 years of construction, all the buildings have completed in which she received the remaining EU subsidy of € 400K to fully repay the loan. The loan is expected to be fully repaid within this year, after the grace period.
Her fresh produces are sold in several local fresh markets in Bulgaria. Today, the businesswoman manages her greenhouse with help from her family members, and she also hires seasonal workers when necessary.
Now, she is seeking to borrow a loan for working capital, the funds will be used to cover fertilizer and seed costs.
Loan information BG0000952
| Raised | €15 000 |
| Remaining | €0 |
| Goal | €15 000 |
| Left | 0 Days |
| Return rate | 15.50% |
| Risk rating | B+ |
| Loan period | 35 Months |
| LTV | - |
| Country | Bulgaria |
| Loan purpose | Working capital |
| Repayment type | Tailored to farmers need |
| No of investors | 67 |
| Security measures | Personal surety |
Business information
Loan history
| Declared land, ha | 1.00 |
| Owned land, ha | 1.00 |
| Revenue | |
|---|---|
| 2021 | €295 000 |
| 2020 | €34 000 |
| Net profit | |
| 2021 | €77 000 |
| 2020 | -€33 000 |
| Equity ratio | |
| 2021 | 8% |
Security measures
| Type | Description | Value | Valuation method |
| Other | Personal surety of project owner | ||
| Total value of pledged assets | €0 | ||
Annual interest
| Investing from €100 | 15.50% |
Project risks
For this project, there is a risk of losing all the profits made and the funds invested.
In this case, if the Project Owner fails to fulfill its obligations, the Platform Operator will take all necessary measures to protect the interests of investors and use the provided collateral, but the Platform Operator does not guarantee the full fulfillment of the Project Owner's obligations.
Financial agreements are not subject to the insurance protection established by the Law on Insurance of Deposits and Liabilities to Investors of the Republic of Lithuania.
Additional information:
If the project owner does not collect the amounts to be financed, the collected funds will be returned to the funders by transferring them to the account from which they were transferred. The Platform Operator also has the right to offer the Project Owner to reduce the amount to be financed during the Project financing term or to extend the Project financing term. In this case, if the amount to be financed is reduced or the term of financing the Project is extended, it shall in all cases be announced on the Platform and the Fund's financiers shall be informed.
