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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.
BG0001984
| Project owner | Address |
|---|---|
| Velian Vasilev, Vileks Agro EOOD | Goran village, Lovech region |
| header_1 | Declared | Owned |
|---|---|---|
| Farming land | 162.43 ha | 30.00 ha |
| 2022 | 2021 | |
|---|---|---|
| Revenue | 370,175.32 € | 285,812.16 € |
| Net profit | 124,243.93 € | 77,942.00 € |
| Equity ratio | 25.23% | - |
Documents
Payment schedule
Vileks agro, established in 2014, currently cultivates 162.43 hectares of farmland, where wheat, sunflower, corn, and alfa alfa are grown. The farm also includes 8 ha of peach orchard in the village of Goran, Lovech district. This year, the owner will expand the peach orchard and diversify the business with vegetables and watermelons. In order to irrigate his new plots, he has rented a dam with a long-term contract
Since the first days of operations, the company heavily invested in the technical fleet, which now consists of 3 tractors, combine harvesters, planter, harrow, cultivators, and other smaller pieces of equipment. The company has switched from conventional farming to minimum tillage.
The company has one loan taken from the HeavyFinance investor community and currently doesn't have an overdue instalment on its first loan BG0000321..
The company's current objective is to refinance the remaining part of its initial loan, which presently carries an active balance of 6,510 EUR. The remaining portion will be designated for bolstering working capital.
In order to secure the loan, the wheeled tractor ArmaTrac 804 and wheeled tractor Lamborghini Rasing 190VT, previously pledged as collateral for BG0000321, will be registered. Based on the latest valuation report, the assessed value of this pledged asset stands at a total of 32,094 EUR. Additionally, the company director is offering his personal surety as an additional safeguard.
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.