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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.
LT0000015
| Project owner | Address |
|---|---|
| Algirdas Maldaikis |
| header_1 | Declared | Owned |
|---|---|---|
| Farming land | - | - |
| Revenue |
| Net profit |
| Equity ratio |
Documents
Payment schedule
Algirdas Maldaikis is a young farmer who launched his mixed farm in 2015. Due to a high crop yield this year he managed to earn more than usual and did some harvesting work to other farmers with his own combine harvester to get some extra revenue.
Currently, Algirdas has 26 hectares of arable land and sees the opportunity to acquire more land. In the future, he is willing to expand his farm to 60 hectares. But first, he needs to buy the needed machinery to take care of growing operations. Therefore, he is buying a new Belarus 952.2 tractor for 26.500 Eur including VAT.
Last year, his revenue was 4.200 Eur and he also got 8.700 Eur in subsidies. This year he is expecting to get more revenues and grow more cattle.
Interest rates:
Interest rate – 13,5 %
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 tractor “Belarus 952.2”
Project investment return and interest payment:
- Start of the loan financing period on the HeavyFinance (Platform Operator) platform: 2020-10-13
- End date of the financing period: 2020-10-27, or until the loan is fully financed.
- Investment: from 100 €
- Annual return on investment: 13,5%.
- Loan term: 24 months
- The Borrower will repay EUR 14,535 in two annual installments, interest will be paid monthly and EUR 13,965 will be paid with the last payment.
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.