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Agriculture loan
Agriculture loans are tailored to acquire capital for various purposes such as expansion, inventory purchase, equipment acquisition, hiring staff, or to manage day-to-day operational expenses. The terms and conditions of these loans vary depending borrower's creditworthiness, collateral, repayment tenure and other factors.
BG0001743
| Project owner | Address |
|---|---|
| Nikolay Dimitrov | Rasovo vilige, Montana region |
| header_1 | Declared | Owned |
|---|---|---|
| Farming land | 49.65 ha | 10.00 ha |
| 2022 | 2021 | |
|---|---|---|
| Revenue | 77,713.56 € | 56,475.22 € |
| Net profit | - | - |
| Equity ratio | - | - |
Documents
Payment schedule
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Nikolay and his brother are managing a family farm established in 2005. With 18 years of experience, their focus is on crop production and animal husbandry.
This year the farm has increased their productivity from 62 cattle to 76 and 43.8 ha of arable land to 49.65 ha. On the arable land in the Montana region, they cultivate sunflower, triticale, maize, alfalfa, and pasture for fodder. The crops are mainly used for feeding needs.
Previously the project owner borrowed two loans from HeavyFinance with a total amount of 19 000 € from the HeavyFinance investor community. Currently, an active loan balance is 11 048 € which he has been meeting his financial obligations in a timely manner.
Now they need additional working capital to cover their daily needs. To secure the loan, the pledge on two plots of agricultural land (a total of 3.147 ha) will be registered. Both Nikolay and his brother are providing their personal guarantee as an extra measure to secure the loan.
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.