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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.
LT0002449
| Project owner | Address |
|---|---|
| header_1 | Declared | Owned |
|---|---|---|
| Farming land | 1.29 ha | 1.29 ha |
| 2023 | 2022 | |
|---|---|---|
| Revenue | 376,035.00 € | 391,123.00 € |
| Net profit | 47,026.00 € | 29,711.00 € |
| Equity ratio | 67.39% | - |
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UAB Kirtūna was established on 27 September 2012. The authorised capital of the company is EUR 2,896, with all shares owned by Vilma Adomaityte, who has served as the company's director since 2022.
Since its establishment, Kirtūna has been engaged in the wholesale trade of logs and single-cut boards. The logs are mainly purchased after they have been felled. Less frequently, forests are purchased, and their felling is organised (the company itself does not carry out the felling), followed by the marketing of the timber. The company currently employs 4 people: a director, a manager, and 2 timber truck operators. Kirtūna owns a 2014 Scania G480LB6X4HSA logging truck equipped with a 2-stage manipulator and a trailer for transporting wood from logging sites to storage sites and for delivery to suppliers. Additionally, a 2013 JYKI trailer has been purchased, repaired, and fully equipped for operations. The company does not have dedicated administrative premises but utilizes a house owned by a shareholder located in Dukstynos k., Vytauto g. 124, Ukmergė. The parking lot is situated on a plot of land owned by the company in Runeikių k., Kėdainių r.
Logs are primarily purchased from legal entities, with companies like UAB VKTC (about 13% of total purchases) and UAB Fandas (10% of total purchases) being key suppliers. Approximately 37% of timber is purchased from individuals and farmers, who often offer more profitable deals but require advance payments, necessitating sufficient working capital for timber procurement. Over its 7 years of operation, the company has built a solid reputation as a reliable supplier among its customers. As the product range has evolved slightly (e.g., an increase in birch wood sales), customer distribution has also shifted slightly, though most customers have remained consistent, including UAB Vilmeda, UAB Vli Timber, UAB Štaresta, and UAB Parketo gamyba. Other buyers also maintain stable business relationships, with purchasing decisions influenced by the type of timber available and the prices offered at a given time.
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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.