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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.
BG0002253
| Project owner | Address |
|---|---|
| header_1 | Declared | Owned |
|---|---|---|
| Farming land | 33.72 ha | 0.00 ha |
| 2023 | 2022 | |
|---|---|---|
| Revenue | 61,866.32 € | 21,985.55 € |
| Net profit | 17,895.22 € | 4,091.00 € |
| Equity ratio | 13.98% | - |
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An experienced farmer founded an agricultural company in 2018, specializing in both animal husbandry and ecological farming. The farm is located in Elena, Veliko Turnovo, where 11 cattle and 37 sheep are raised. The company cultivates over 33.72 hectares of ecologically certified land for its agricultural activities.
In addition to the livestock and farming operations, the company has been awarded a project under measure 4.1 for the purchase of equipment and the construction of a new building, which will further enhance its productivity and infrastructure.
Despite its growth, the company has faced financial challenges in the past due to delays in subsidy payments and additional costs incurred during the two-year transition from conventional to ecological farming.
This loan aims to refinance an existing loan with another financial institution and repair the farm's roof. The farmer is eligible to receive the EU subsidy with the minimum amount of € 23.9k which will be used as a security measure for this loan. The subsidy to farmers supported under schemes and measures of the Common Agricultural Policy, including the scheme Single Payment per area from the State Fund Agriculture will be paid to the farmer's account where HeavyFinance has full access to the pledged receivable.
The farmer has fully repaid two loans on the HeavyFinance platform.
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.