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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.
LT0000023
| Project owner | Address |
|---|---|
| header_1 | Declared | Owned |
|---|---|---|
| Farming land | - | - |
| Revenue |
| Net profit |
| Equity ratio |
Documents
Payment schedule
Elicon Baltic, UAB was established in 2013 by a German businessman Ronald Branick. Since then, his venture grew into the company managing a farm with more than 680 hectares of arable land.
Furthermore, his family owns one more agricultural firm, thus, the household works around 1.000 hectares of arable land. A big part of this land is being leased from other companies.
9 employees are working at Elicon Baltic. They mainly plant and harvest winter wheat and rapeseed among other plants. The company already has several tractors, combine harvester and other heavy-duty vehicles. For a further productivity increase, Ronald decided to buy a new tractor Deutz-Fahr 6215 Agrotron for 115.978 Eur including VAT. However, he would like to pay for this purchase in instalments.
Therefore, he proposes HeavyFinance borrower’s community to provide him with a loan for 36 months with the interest rate of up to 13%. The loan amount is 70.000 Eur and the down payment of more than 45.000 Eur will be paid to the seller directly. Consequently, loan-to-value ratio is 60%.
For more information please visit sections ‘Project Owner’ and “Document’.
Interest rates:
- Investing from 100 € - interest 10,4%
- Investing from 1.000 € - interest 11%
- Investing from 5.000 € - interest 11,5%
- Investing from 10.000 € - interest 11,8%
- Investing from 20.000 € - interest 12%
- Investing from 40.000 € - interest 13%
Purpose of the loan:
To purchase tractor Deutz-Fahr 6215 Agrotron
Project investment return and interest payment:
- Start of the loan financing period on the HeavyFinance (Platform Operator) platform: 2020-11-10
- End date of the financing period: 2020-11-24, or until the loan is fully financed.
- Investment: from 100 €
- Annual return on investment: from 10,4% to 13%.
- Loan term: 36 months
- The project owner will repay the principal according to the schedule below:
- November, 2021 (16 171 Eur)
- November, 2022 (16 333 Eur)
- November, 2023 (37 496 Eur)
- The Interest will be paid monthly.
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.