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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.
LT0000032
| Project owner | Address |
|---|---|
| header_1 | Declared | Owned |
|---|---|---|
| Farming land | - | - |
| Revenue |
| Net profit |
| Equity ratio |
Documents
Payment schedule
Kazimieras Brazauskas took over the farm of his parents in 2017. Since then, the farm has been expanding and now has 70 hectares of arable land. The farmer grows cattle, winter wheat and summer wheat.
21 years old agriculture businessman sees many opportunities for a further expansion because many old farmers want to sell their land close by. Considering the lack of workforce in the agricultural sector, he already has two tractors and a combine harvester. Consequently, he is planning to acquire more heavy-duty vehicles.
However, to prepare for the next season Kazimieras firstly needs to buy a new plough. He already chose one from a large respected dealer Dotnuva Baltic for €16.940. Therefore, the farmer is borrowing €10.000 from HeavyFinance investor community and will use this plough as collateral.
The farmer met the criteria to get subsidies from the National Paying Agency under the Ministry of Agriculture of the Republic of Lithuania to modernize his farm. The total amount is €50.000 Therefore, after buying this plough he will receive almost €6.000 in financial support.
This is the first stage of the modernization plan. In Spring the farmer plans to borrow more money from HeavyFinance investor community to buy a tractor.
In three quarters of this year, the gross profit of the farm was €17.400 in comparison to the gross profit of full year in 2019, which was €19.400. What is more, the farm posted €12.000 in net profit in three quarters of this year, while in 2019 the net profit was €16.300.
The equity ratio of the farm in September 2020 was 43,58%.
Interest rates:
Interest rate - 12,5%
Purpose of the loan:
To purchase the plow "150S-100-130-4"
Project investment return and interest payment:
- Start of the loan financing period on the HeavyFinance (Platform Operator) platform: 2020-12-04
- End date of the financing period: 2020-12-18, or until the loan is fully financed.
- Investment: from 100 €
- Annual return on investment: 12,5%.
- Loan term: 24 months
- The project owner will repay the principal according to the schedule below:
- December, 2021 (4 975 Eur)
- December, 2022 (5 025 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.