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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.
LT0000011
| Project owner | Address |
|---|---|
| Rytis Darginavicius, UAB NOVA RENT |
| header_1 | Declared | Owned |
|---|---|---|
| Dirbama žemė | - | - |
| Revenue |
| Net profit |
| Equity ratio |
Documents
Payment schedule
Nova rent a leading heavy equipment seller that also provides equipment rental and equipment service. While ordering many new heavy-duty vehicles, the company needs a loan of 45.000 Eur to increase working capital using a combine harvester New Holland CX860 as a collateral. The worth of this combine harvester is 66.100 Eur, thus loan-to-value ratio is no higher than 68%.
In 2019 Nova rent sales revenue was 6,78M Eur, in comparison to 3,37M a year ago. Furthermore, the company got profit of more than 722.000 Eur last year. In 2018 company‘s profit was 136.000 Eur.
Interest rates:
- Investing from 100 € - interest 10,7%
- Investing from 1.000 € - interest 11,1%
- Investing from 5.000 € - interest 11,5%
- Investing from 10.000 € - interest 12%
- Investing from 15.000 € - interest 12,4%
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 increase working capital
Project investment return and interest payment
- Start of the loan financing period on the HeavyFinance (Platform Operator) platform: 2020-09-15
- End date of the financing period: 2020-09-29, or until the loan is fully financed.
- Investment: from 100 €
- Annual return on investment: from 10,7% to 12,4%.
- Loan term: 24 months
- The loan holder will repay the loan on an annuity basis in monthly instalments.
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.