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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.
LT0000626
| Project owner | Address |
|---|---|
| header_1 | Declared | Owned |
|---|---|---|
| Farming land | 167.67 ha | 20.00 ha |
| 2020 | 2019 | |
|---|---|---|
| Revenue | 258,216.00 € | 268,216.00 € |
| Net profit | 91,714.00 € | - |
| Equity ratio | 18.6% | - |
Documents
Payment schedule
About the project
The entrepreneur, who has been farming since 2014, is involved in cereal and dairy cattle farming. 87% of the farm's income comes from the sale of cereals, and the rest is earned by selling milk and cattle.
The project owner is persistent in his efforts to develop and expand the farm: in 2016, a tractor was purchased under the 2014-2020 Lithuanian Rural Development Programme "Support for investments in agricultural holdings", and in 2017 a spreader, sprayer and plough were bought.
This is not the first farmer's project on the HeavyFinance platform, one of the projects was supported by the Agricultural Loan Guarantee Fund. The current active loan balance is €33 500 and two loans totalling €282 000 have been fully repaid.
The project owner is now borrowing €22 000 to increase the working capital. The funds will be used to buy fertiliser. The loan will be secured by a pledge on the tractor.
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.