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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.
BG0001587
| Project owner | Address |
|---|---|
| header_1 | Declared | Owned |
|---|---|---|
| Farming land | 111.57 ha | 5.00 ha |
| 2022 | 2021 | |
|---|---|---|
| Revenue | 152,050.06 € | 63,219.52 € |
| Net profit | - | - |
| Equity ratio | - | - |
Documents
Payment schedule
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The farmer, who has been working in the agriculture sector for 9 years, runs a mixed farm in the Veliko Tarnovo region, Bulgaria. Thanks to financing received from the HeavyFinance investor community, the farmer has extended his farm territory from 96.29 ha from to 111,57 ha today. Wheat, sunflower, and corn are grown on the most fertile land plots. A part of the farmland is dedicated to pastures, where 155 dairy goats graze.
The businessman is focused on methods to increase the farm's revenue and profit. He has been storing his harvest for longer, evaluating the market before selling them at the best price.
The current farm’s technical fleet consists of a tractor, a plough, a harrow, a cultivator and a bale wrapper. He had also applied for EU subsidies and obtained additional funding to purchase new equipment.
Currently, the businessman has 4 active loans with a total remaining principal of 30,212 €, he also has fully repaid BG0000339.
With this loan, the farmer will refinance two existing loans on the HeavyFinance platform (BG0000483 and BG0000989) which have a total outstanding balance of 12 476 €. The remaining amount will be used to secure the rented land for 5 years. To secure the loan, the pledge on a wheeled tractor John Deere 6530 (made in 2009) will be registered.
After the refinance, the total active balance of the farmer on the HeavyFinance platform will be 55 315 €.
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.