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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.
LT0000302
| Project owner | Address |
|---|---|
| header_1 | Declared | Owned |
|---|---|---|
| Farming land | - | - |
| Revenue |
| Net profit |
| Equity ratio |
Documents
Payment schedule
Sole accountability
This loan is secured by sole accountability from the project owner. Read more about this security measure here.
About the project
"My philosophy of successful farming is to implement the development plans one after another - in this way, I am sure that I won't miss anything important," says an ambitious young farmer who started breeding beef cattle in Radviliškis district five years ago. Having started his activity with only 3 hectares of land, the farmer now declares 45,1 hectares and leases an additional 60 hectares from other farmers, who declare the leased areas themselves.
The farm currently raises 50 limousine cattle, but the project owner is planning to increase the herd by another 20 heifers soon. The fodder for cattle is grown on the farmland - peas, wheat, winter barley, triticale, and potatoes are sown here every year. If the quantity of grains exceeds the need to feed his cattle, the farmer sells them to other farms, thus earning additional income.
The project owner uses a tractor and smaller tools for the work. He points out that there is a lack of additional equipment for sowing and watering the land, therefore he plans to expand the technical fleet in the future.
Although one purchase of livestock was not successful and brought a small loss to the farm in 2019, last year the activity was profitable, and from next year the farmer is planning to start active trade in meat products in Lithuania and export part of the meat to Germany. The project owner takes all the challenges with a smile and continues to pursue his goal. The first of them is to expand the livestock herd, thus ensuring an uninterrupted supply of meat, and to finally implement the requirements of the NPA (National Paying Agency) support program for young farmers. For the final realization of the project, the businessman is borrowing 12.000 €. The loan will be repaid in 12 months.
The farmer's plans are not limited to increasing the herd - the project owner promises to expand the available land area, build additional barns and other necessary buildings within a few years.
Area of declared land: 45,1 hectares, from which 35 hectares are owned by the project owner.
Annual interest - 12,5%
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.