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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.
BG0002206
| Project owner | Address |
|---|---|
| header_1 | Declared | Owned |
|---|---|---|
| Farming land | 75.29 ha | 12.50 ha |
| 2023 | 2022 | |
|---|---|---|
| Revenue | 44,969.19 € | 35,673.57 € |
| Net profit | 11,378.99 € | - |
| Equity ratio | - | - |
Documents
Payment schedule
Todor Petrov is a registered sole trader in Plovdiv, though his farm is now located in the village of Opalchentsi, within the Bratya Daskalovi municipality, Stara Zagora region. Two years ago, Todor shifted his farming operations from cattle raising to exclusively growing grain, peas, and pastures.
To continue this transition, Todor now requires working capital to purchase seeds, fertilizers, and to settle some overdue installments caused by delayed subsidy payments. He has previously received 5 loans from the HeavyFinance investor community, and while he has generally been timely with his repayments, there have been minor delays. One of his loans is fully repaid.
With this new project, Todor aims to refinance his existing subsidy loan BG0001508 which has the outstanding balance of 6 918.79 € as the subsidy repayment scheduled has been delayed. The remaining funds will be allocated to working capital.
The farmer is eligible to receive the EU subsidy from the total cultivated hectares and the animal raises which will be used as a security measure for this loan. The subsidy to farmers supported under schemes and measures of the Common Agricultural Policy, including the scheme Single Payment per area from the State Fund Agriculture will be paid to the farmer's account where HeavyFinance has full access to the pledged receivable.
For the year 2024-2025 agricultural year, the farmer will receive subsidies amounting to 30 331 €.
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.