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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.
BG0001753
| Project owner | Address |
|---|---|
| Rumen Tafradzhiyski | Kneja town, Pleven region |
| header_1 | Declared | Owned |
|---|---|---|
| Farming land | 66.08 ha | 25.00 ha |
| 2022 | 2021 | |
|---|---|---|
| Revenue | 534,691.15 € | 300,085.90 € |
| Net profit | - | - |
| Equity ratio | - | - |
Documents
Payment schedule
Rumen Tafradzhiyski established his business in 1994 as a transport company. After a few years, he decided to diversify and started growing cereals.
Now he cultivates wheat, maize, sunflower, and alfa-alfa on 66,08 ha of farmland, of which 25 ha are his own, and currently operates 5 trucks.
In 2022, the businessman has made over € 534K of revenue, increased by 78% compared to 2021 thanks to the increased number of trucks from 1 to 5.
His son, Kubrat, is also a farmer and has 3 loans taken from the HeavyFinance investor community with a total amount of 59 733 € (BG0001090, BG0001187, and BG0001470). Kubrat has fully repaid one loan and currently has an active loan balance of 44 733 which he has been meeting his financial obligations in a timely manner
Rumen Tafradzhiyski himself recently took a loan of 15 000 € and the first instalment date has not yet arrived.
Now he is looking for external finance to increase his working capital. To secure the loan, he is pledging his truck as collateral as well as a personal guarantee from the son.
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.