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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.
PT0000709
| Project owner | Address |
|---|---|
| header_1 | Declared | Owned |
|---|---|---|
| Farming land | 0.70 ha | 0.70 ha |
| 2021 | 2020 | |
|---|---|---|
| Revenue | 16,123.62 € | 14,399.06 € |
| Net profit | - | - |
| Equity ratio | - | - |
Documents
Payment schedule
About the project
The Farmer needs this loan to start a Saffron production in the Centre/South of Portugal
Saffron (Crocus Sativus), is arguably one of the most valuable spices in the world. It requires mild winters, hot and dry summers and a relatively arid soil. Some regions in the Central/Southern Iberian Peninsula present these climate conditions and thus have the potential to produce high quality saffron.
The loan is mostly for the acquisition of 80 thousand calibre 8-9 Saffron bulbs to be planted in June 2022. The project owner already bought 2 acres of cultivable and suitable land with his own capital in Santarém (Centre/South of Portugal), a warm region in the country with mild winters.
To ensure the quality of the crop, the project owner will apply biological and sustainable methods to his Saffron culture, where there is no need for machinery since almost all work will be manual. And, although not an immediate priority, he will pursue a biologic farming certificate for his production in the future.
The initial cultivation area is 4.000 m2. But since each bulb generates between 2 and 5 new replantable bulbs per year, it allows for an exponential growth of the production after each crop. Therefore the farmer plans to acquire more land in order to double production in the third and fourth years.
The farmer will be the only permanent worker of the business in the first years, resorting to agricultural engineers to ensure the quality of the crop, and hiring the necessary temporary workforce during the weeks in which the harvest (hand-picking of the flowers) takes place.
At the moment, the project owner's main activity is as a real estate agent. Given the seasonality and scale of the planned initial Saffron farm, both activities are easily compatible, and therefore he is able to ensure a steady income while the farm is pre- revenue. He is also starting contacts with specialised intermediaries in the central European markets to sell his first saffron production, which will be harvested in September 2023.
His business plan forecasts a break-even at the end of the second year and sustainable profits after that.
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.