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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.
LT0000024
| Project owner | Address |
|---|---|
| header_1 | Declared | Owned |
|---|---|---|
| Farming land | - | - |
| Revenue |
| Net profit |
| Equity ratio |
Documents
Payment schedule
Established in 2011, Litrental specialises in bulk load transportation, road construction and repair services. The firm has long term working relationship with some of the largest companies in Lithuania like Kauno Tiltai, Eurovia and Lithuania’s leading grain producers. Litrental also worked on large scale infrastructure projects including Rail Baltica and some project abroad.
The company recently signed a new contract worth €1,65 million for road construction works in Lithuania. To prepare for this project, the company needs to acquire two dump trucks and increase working capital. Therefore, Litrental wants to borrow €75.000 from HeavyFinance investor community.
To increase safety for investors, right after the acquisition the company will pledge both dump trucks (MAN TGA 26.430 made in 2005 and MAN TGA 26.460 made in 2003). According to the independent evaluator, these two heavy-duty vehicles combined worth €59.300. Litrental will also pledge assets that the company already owns for no less than €48.700. Consequently, the loan to value ratio will be no higher than 70%.
In 2019 the company posted revenue of €1,7 million. In comparison, The profit (loss) statement of the III quarters of 2020, shows that Litrental already got revenue of €1,69 million. Besides, the company earned 22.000 Eur profit in 2019.
Currently, the equity ratio of Litrental is 36%.
Interest rates:
- Investing from 100 € - interest 10,2%
- Investing from 1.000 € - interest 10,5%
- Investing from 5.000 € - interest 11,7%
- Investing from 20.000 € - interest 12,2%
- Investing from 40.000 € - interest 13%
Purpose of the loan:
To increase working capital and to acquire two dump trucks.
Project investment return and interest payment:
- Start of the loan financing period on the HeavyFinance (Platform Operator) platform: 2020-11-13
- End date of the financing period: 2020-11-27, or until the loan is fully financed.
- Investment: from 100 €
- Annual return on investment: from 10,2% to 13%.
- Loan term: 24 months
- The project owner will repay the loan on annuity basis with 4 months ofdeferral principal installments.
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.