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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.
LT0000025
| Project owner | Address |
|---|---|
| header_1 | Declared | Owned |
|---|---|---|
| Dirbama žemė | - | - |
| Revenue |
| Net profit |
| Equity ratio |
Documents
Payment schedule
Established in 2013, Magava, UAB is a used heavy equipment rental and sales company based in Lithuania. Seeing that the market of heavy equipment rental is increasing, the company wants to expand operations.
Magava already signed contracts for lease of all agricultural equipment it has. Therefore, the company is acquiring a combine harvester Claas 770 TT for 199.650 Eur including VAT. More than half of the amount the company will pay itself and for the rest 95.240 Eur it seeks to get financing from „HeavyFinance“ investors community.
The company will be paying the interest to the investors on a monthly basis, while the principal amount will be paid back in parts once a year.
Sales revenues of Magava exceeded 447.000 Eur last year in comparison to 630.000 Eur in 2018. Furthermore, the company got 30.000 Eur loss in 2019 and 22.000 Eur loss in 2018.
Interest rates:
- Investing from 100 € - interest 10,5%
- Investing from 500 € - interest 11%
- Investing from 5.000 € - interest 11,7%
- Investing from 10.000 € - interest 12,3%
- Investing from 30.000 € - interest 13%
Purpose of the loan:
To purchase a 2014 harvester Claas Lexion 770 TT.
Project investment return and interest payment:
- Start of the loan financing period on the HeavyFinance (Platform Operator) platform: 2020-11-17
- End date of the financing period: 2020-12-01, or until the loan is fully financed.
- Investment: from 100 €
- Annual return on investment: from 10,5% to 13%.
- Loan term: 24 months
- Interest is paid on yearly basis and the first interest payment is made one year after the loan disbursement date. Principle will be repaid with the last interest 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.