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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.
BG0001511
| Project owner | Address |
|---|---|
| header_1 | Declared | Owned |
|---|---|---|
| Farming land | 1.00 ha | 1.00 ha |
| 2022 | 2021 | |
|---|---|---|
| Revenue | 37,500.00 € | 31,200.00 € |
| Net profit | - | - |
| Equity ratio | - | - |
Documents
Payment schedule
Ilian Kodinov has been registered as a farmer for 15 years. The farmer manages his farm together with his wife, raising 120 dairy cows.
The businessman has secured the purchase agreements with "Bor-Chor dairy", a Bulgarian manufacturer of high-quality dairy products. Besides, he also keeps part of their milk production to make cheese, yellow cheese, and butter and sell it themselves.
The animals are raised in their own barn equipped with all the necessary equipment. To help with daily farm work, they employ two permanent workers.
The businessman has borrowed 9 000 € from the HeavyFinance investor community to purchase more feed a certified producer. Now the farmer is looking for additional finance for working capital. To secure the loan, the project owner's spouse is providing her personal guarantee as an extra measure.
In 2022 and 2021, the farmer received part of the revenue in cash which was not declared in the tax declaration. The creditworthiness assessment was carried out with only officially declared revenue.
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.