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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.

LT0000885

Goal

21,800 €

Raised

21,800 €

Return rate

From 10.5%

Rating

B+

Period

Time left

LTV

28%

Country

Lithuania

Loan purpose

Land purchase

Business information

Security measures

Loan history

Project owner	Address
Xxxxxxx Xxxxxxxxxxč	Šxxčxxxxxų xxxx., Šxxxxų xxx., Xxxxėxxxx xx.

header_1	Declared	Owned
Dirbama žemė	6.42 ha	1.31 ha

	2021	2020
Revenue	33,623.48 €	29,458.86 €
Net profit	-	-
Equity ratio	-	-

Project description

Documents

Payment schedule

The farm in the Šalčininkai district was officially registered in 2021. The businessman gained farming experience as a child while helping his parents on their small farm.

Currently, the registered land area is 6 ha, but now with an opportunity to own not only the ~3 ha of land, but also the surrounding buildings (a dwelling house, a barn, etc) farmer seeks to borrow 21 800 € from the HeavyFinance investor community. The loan is secured by a mortgage on the apartment in Vilnius. In addition, the project owner wife's is providing a guarantee to secure the loan.

The farm grows cereals and some early potatoes. The farmer's plans are to expand the farm to at least 50 hectares and to gradually acquire more machinery, which is currently inherited from his parents.

As the project owner started his farming activities in 2021, the farm has not yet generated any income. However, he also works as an HGV driver which currently is his main source of income.

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.