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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.
BG0001579
| Project owner | Address |
|---|---|
| header_1 | Declared | Owned |
|---|---|---|
| Farming land | 0.75 ha | 0.00 ha |
| 2022 | 2021 | |
|---|---|---|
| Revenue | 65,678.22 € | 45,914.10 € |
| Net profit | - | - |
| Equity ratio | - | - |
Documents
Payment schedule
Milena Milanova established her farm in 2018 in Vidin town. The businesswoman specialises in Simmental cattle breeding which is renowned for its rapid growth.
The herd of cattle has increased from 51 heads at the beginning of the operation to 122 today. The farmer also cultivates 13,14 ha of land for forage needs, of which has transferred the declaration of the crop to other farm nearby in order to secure the EU subsidies measure 6.1
In addition, the farmer has diversified her business only concentrating on cow breeding but also engaging in an organic plum orchard too., which she started with the subsidies received. Now, the orchard is cultivated in the 0.75 ha of farmland.
The farmer has borrowed two loans from the HeavyFinance investor community with an active balance of 131 355.99 € with the loan BG0000725 and BG0001319 which she has been meeting her obligations in timely manner.
Now, she is borrowing additional 2 253 € to cover her daily expenses. The loan will be backed by a second-lien mortgage on two units of horizontal chain fertilizer belt with a value of 39880 €. Please note that HeavyFinance holds the first-lien mortgage on the asset pledged.
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.