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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.
LT0000420
| Project owner | Address |
|---|---|
| header_1 | Declared | Owned |
|---|---|---|
| Dirbama žemė | - | - |
| 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. The farmer will also sign a promissory note* for a full amount including the interest.
*A promissory note is a financial instrument that contains a written promise by one party (the note's issuer or maker) to pay another party (the note's payee) a definite sum of money, either on demand or at a specified future date.
About the project
The businessman established a family farm in 1995. Seeing the success of the father, his daughter and two sons also launched farms themselves.
Consequently, the farmer now declares 515 hectares of arable land, of which 200 hectares he owns. But the whole family declares 2.326,69 hectares of arable land.
The ecological farm grows mainly wheat and buckwheat. the businessman has various heavy-duty vehicles and also grain storage towers, where he can store up to 1.500 tons of grain. Therefore, he's also purchasing grain from other farmers to sell it later for a higher price.
The farm is now borrowing for the extension of the previous loan - the project owner has borrowed 100,000 €, of which €45,000 has already been transferred to the HeavyFinance account and will be disbursed to the investors together with the disbursement of this loan.
This loan will be used to buy some grain from others and to prepare for the next season.
Area of declared land: 515 hectares, from which 200 hectares are owned by the project owner.
Annual interest - 11%
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.