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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.
LT0000225
| Project owner | Address |
|---|---|
| header_1 | Declared | Owned |
|---|---|---|
| Farming land | - | - |
| Revenue |
| Net profit |
| Equity ratio |
Documents
Payment schedule
About the project
This project is dedicated to the development of a Lithuanian farm. The farmer, who first gained experience working with a large Danish farmer, set up his own farm in 2005. Since then, the business established in the fertile Kaišiadoriai district has expanded to 186 hectares of declared farmland.
The farmer claims that competition for farmland in the region is high, making it difficult to expand. However, every year together with his family he manages to purchase several hectares from current landlords.
Constantly thinking about the development of the farm, last year, the businessman received financing for a tractor from the credit union and pledged 10 ha of land for this purpose. Later, after receiving a good offer to expand the farmland, he acquired another 16 hectares of land. The farmer received funding for the implementation of these plans from another alternative financing platform. In total, these obligations of the farmer amount to 72.000 €.
Now the farmer wants to properly prepare for sowing winter crops, and for that, he needs 30.000 €. The funds will be used to cover fuel costs, purchase winter rapeseeds, repair machinery, pay initial payments on new land plots. Due to the conservative approach of previous financiers and the excessive requirement for the collateral value, the farmer applies to the HeavyFinance investor community for financing. The 102.000 € loan will be used to fully cover previous financial liabilities: (72.000 €) and to increase working capital (30.000 €). 72.000 € will be transferred directly to the previous creditors, and 30.000 € will be paid directly to the farmer's account.
The farm's technical fleet consists of two tractors, a harvester, five trailers, a sprayer, and various smaller equipment.
This is not the first farmer's project on the HeavyFinance platform - previously the businessman borrowed 26.250 € to prepare for the summer season. The loan installments are made on time.
Area of land declared: 186,42 ha.
Annual interest:
- Investing from 100 € - interest 11,3%
- Investing from 500 € - interest 11,9%
- Investing from 1.000 € - interest 12,2%
- Investing from 2.000 € - interest 12,4%
- Investing from 5.000 € - interest 12,7%
- Investing from 10.000 € - interest 12,9%
- Investing from 20.000 € - interest 13,2%
- Investing from 30.000 € - interest 13,6%
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.