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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.
LT0000038
| Project owner | Address |
|---|---|
| Remigijus Impolis, UAB Geri grūdai |
| header_1 | Declared | Owned |
|---|---|---|
| Farming land | - | - |
| Revenue |
| Net profit |
| Equity ratio |
Documents
Payment schedule
Geri grūdai, UAB, manages a 423 ha farm in Pasvalys district. The farm currently cultivates potatoes, rapeseed, wheat, and other crops.
Geri grūdai uses two 2019 and 2020 tractors, a loader, and other equipment for daily works in a farm.
After two successful seasons, the company is preparing for the new one and plans to acquire more arable land and purchase fertilizers.
Therefore, to increase working capital the company is borrowing €50,000 from the HeavyFinance investors community. The loan will be repaid within 12 months and the annual investment return is up to 13%.
To secure the loan, Geri grūdai, UAB, will pledge a Case IH PUMA 200 CVX tractor. The value of the pledged property is not less than € 100,000 and the loan-to-value ratio is not more than 50%. On 30 October, 2019, the tractor was valued at € 129,349 by independent property valuers. A new valuation of the property is currently underway, so the exact current value of the tractor will be known later.
Financial situation
Turnover
2020 - 11 €335.104
2019 €484.567
EBITDA
2020 - 11 €188.164,96
2019 €173.169,18
Equity ratio
2020 - 11 27%
2019 21%
An equity ratio is a financial indicator that compares a company's equity to its assets. This ratio shows the share of equity in the capital structure.
Interest rates:
- Investing from 100 € - interest 10,4%
- Investing from 500 € - interest 10,8%
- Investing from 1.000 € - interest 11%
- Investing from 5.000 € - interest 11,2%
- Investing from 10.000 € - interest 12%
- Investing from 20.000 € - interest 13%
Purpose of the loan:
To increase working capital
Project investment return and interest payment:
- Start of the loan financing period on the HeavyFinance (Platform Operator) platform: 2020-12-16
- End date of the financing period: 2020-12-30, or until the loan is fully financed.
- Investment: from 100 €
- Annual return on investment: up to 13%.
- Loan term: 12 months
- Interest on the loan amount is calculated from the date (inclusive) on which the loan amount is paid to the project owner.
- The project owner will repay the loan amount with the last payment and 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.