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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.
BG0002299
| Project owner | Address |
|---|---|
| header_1 | Declared | Owned |
|---|---|---|
| Farming land | 164.00 ha | 5.00 ha |
| 2023 | 2022 | |
|---|---|---|
| Revenue | 200,357.69 € | 152,050.00 € |
| Net profit | 6,960.82 € | -8,263.63 € |
| Equity ratio | - | - |
Documents
Payment schedule
Tsvetelin Stefanov is a farmer with 9 years of experience in agriculture, based in the village of Gradishte, Levski municipality, in the Veliko Tarnovo region of Bulgaria. Over the past year, he has expanded his farm, now cultivating 164 hectares and increasing his herd to 185 goats (up from 111.57 hectares and 155 goats last year). Tsvetelin is committed to enhancing his farm operations and has invested in a range of equipment, including a tractor, plough, harrow, cultivator, bale wrapper, and, this year, a new harvester.
The farmer has a strong history with the HeavyFinance investor community, having fully repaid three previous loans (BG0000339, BG0000483, and BG0000989). Currently, he has four active loans, with an outstanding balance of 63 947 €.
Unfortunately, recent delays in payments from traders have put financial strain on his operations.
With this new loan, Tsvetelin aims to refinance two of his active loans (BG0001169 and BG0001295). The remaining funds will be used to cover his late installments and increase working capital for the upcoming season. After refinancing, the active loan balance will be 85 175 €.
To secure this loan, Tsvetelin will pledge his land and equipment.
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.