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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.
LT0000004
| Project owner | Address |
|---|---|
| header_1 | Declared | Owned |
|---|---|---|
| Farming land | 73.04 ha | - |
| Revenue |
| Net profit |
| Equity ratio |
Documents
Payment schedule
Andrius Subačius is a second-generation farmer, who took over the family business in 2009. Since then, he expanded his farm into a business cultivating more than 70 hectares of agricultural land that he owns and renting 30 more hectares of arable land. In more than 100 hectares he is running a mixed farm of grain field and 40 animals, mainly cows.
To take better care of his farm, Andrius is seeking to get a loan of 16.000 Eur. The money will be used to acquire a tractor "New Holland TM165“ for 20.500 Eur. To get this chattel mortgage Andrius is using this tractor and the tractor he currently owns ("Ford NH 8210” made in 1985) as collateral. Upon request, experts made an evaluation of the tractor and valued it at 7.000 Eur. We would like to highlight that formal property evaluation has not been made for this tractor due to low economic value.
Purpose of the loan
To purchase New Holland TM 165 tractor manufactured in year 2002.
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.