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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.
BG0002178
| Project owner | Address |
|---|---|
| header_1 | Declared | Owned |
|---|---|---|
| Farming land | 74.00 ha | 4.00 ha |
| 2023 | 2022 | |
|---|---|---|
| Revenue | 58,894.68 € | 60,400.00 € |
| Net profit | 8,958.34 € | 15,900.00 € |
| Equity ratio | - | - |
Documents
Payment schedule
The farmer started working in agriculture in 2006, and now cultivates 74 hectares of land in the Yambol district, Bulgaria where he owns 4 hectares. Currently, he raises 75 dairy cows and sell his dairy production to large dairy companies where he has secured contracts with.
He also has a warehouse where he stores the fodder and the farm is well-equipped with all the necessary equipment to run daily operations.
This is his fourth loan on the HeavyFinance platform. Currently, a total active loan balance is 33 872 €
Now the businessman is borrowing 15 292 € to refinance BG0000730 secured with heavy equipment and will pay part of BG0001654. After refinancing, the outstanding balance of the borrower will be 36 080 €.
To secure the loan, wheel loader WIEDEMANN (2015) and two pieces of attachment will be registered as collateral.
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.