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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.
LT0000005
| Project owner | Address |
|---|---|
| Gintautas Bulkevičius |
| header_1 | Declared | Owned |
|---|---|---|
| Dirbama žemė | - | - |
| Revenue |
| Net profit |
| Equity ratio |
Documents
Payment schedule
Gintautas Balkevičius is the owner of a mixed farm, where he raises dairy cows, cattle and grows grain. The farm based in Molėtai region, Alanta town grew over a decade from 20 hectares of land to more than 300 hectares of agricultural land.
Gintautas is willing to acquire a mixer wagon Spirmix Trap Door 180 for 43.000 Eur. In total, the farmer wants to borrow 50.000 Eur and use acquiring Spirmix Trap Door 180 as collateral, as well as two tractors Deutz-Fahr Agrotron 6150 (priced at 63.300 Eur) and Case IH Puma 155 (priced at 42.700 Eur).
Over the last year, this farm earned 95.000 Eur in profit, while in 2018 it got 3.000 Eur loss. Furthermore, the total assets of the farm last year were 484.000 Eur. In comparison, total assets reached 646.000 Eur in 2018.
Interest rates:
- Investing from 100 € - interest 10.2%
- Investing from 1.000 € - interest 10,5%
- Investing from 5.000 € - interest 11%
- Investing from 10.000 € - interest 12,1%
- Investing from 30.000 € - interest 13%
At present, the Platform Operator does not make it possible to transfer claim rights that are acquired by concluding financing transactions through the Platform. (No secondary market)
Purpose of the loan
To purchase new SPIRMIX 180 feed mixer-distributor and to increase working capital.
Project investment return and interest payment
- Start of the loan financing period on the HeavyFinance (Platform Operator) platform: 2020-07-14
- End date of the financing period: 2020-07-28, or until the loan is fully financed.
- Investment: from 100 €
- Annual return on investment: from 10.2% to 13%.
- Loan term: 15 months
- Interest on the loan amount is calculated from the date (inclusive) on which the loan amount is paid into the beneficiary's account.
- Interest is paid monthly and the first interest payment is made one month after the loan disbursement date.
- Principal will be paid in the end of the loan term.
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.