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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.
LT0000958
| Project owner | Address |
|---|---|
| header_1 | Declared | Owned |
|---|---|---|
| Dirbama žemė | 0.00 ha | 0.00 ha |
| 2022 | 2021 | |
|---|---|---|
| Revenue | 155,868.00 € | 225,068.00 € |
| Net profit | 13,347.00 € | 12,573.00 € |
| Equity ratio | 56.86% | - |
Documents
Payment schedule
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UAB "Kirtūna" was established on 27th of September 2012. The authorised capital of the company is EUR 2 896, and all shares are owned by Vilma Adomaityte, who has been the company's director this year.
"Kirtūna" has been engaged in the wholesale trade of logs and single-cut boards since its establishment. The logs are mainly purchased after they have been felled. Less frequently, the company hires the felling services for the purchased forest (the company does not felling the forest itself). The company currently employs 4 people: a director, a manager and 2 timber truck operators.
"Kirtūna" has purchased a 2014 Scania G480LB6X4HSA logging truck with a 2-stage manipulator and a trailer for transporting the wood from the logging sites to the storage sites and for transporting it to suppliers. A 2013 JYKI trailer was also purchased, repaired and fully equipped. The company does not have any administrative premises, but uses a house belonging to a shareholder of the company located in Dukstynos vil., Ukmergė dist., as well as a parking lot on a plot of land belonging to the company located at Runeikiai vil., Kėdainiai dist.
Logs are mainly purchased from legal persons, mainly from companies such as UAB "VKTC" (about 13 % of total purchases) and UAB "Fandas" (10%). Around 37% of timber is purchased from individuals and farmers, who are usually more profitable to buy from. It often requires advance payment, which means that working capital is needed to purchase timber.
During the 7 years of operation in the sector, the company has established a good reputation among its customers as a reliable supplier. As the range of products has changed slightly (more birch wood has been sold), the distribution of customers has also changed - but almost all customers have remained the same, namely UAB "Vilmeda", UAB Vli Timber", UAB "Štaresta" and UAB "Parketo gamyba". Other buyers are also more or less constant as company having been in contact with them for a number of years. The main factors determining which buyer to supply are the type of timber available at the time and the price offered.
According to Credit info, a case has been brought before the Ukmergė District Court for compensation of LTL 11 048.46 (EUR 3 199.86). On the basis of which the parties have concluded a Conciliation Agreement for the compensation of damages and submitted it to the Court for approval. It should be noted that the damages have been paid and the date of approval of the settlement agreement is scheduled for October.
Note: The revenue of 2022 is for 6 months, the company has already generated more than half of the previous's year 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.