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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.
LT0001062
| Project owner | Address |
|---|---|
| header_1 | Declared | Owned |
|---|---|---|
| Farming land | 33.42 ha | 28.92 ha |
| 2021 | 2020 | |
|---|---|---|
| Revenue | 16,021.54 € | 15,508.50 € |
| Net profit | - | - |
| Equity ratio | - | - |
Documents
Payment schedule
A farmer, who is engaged in the agricultural sector for almost fifteen years, is running a 33.25 ha mixed farm in Kelmė district, Lithuania. Most of the arable land - 28,92 hectares - is owned by the farmer, 3 hectares of which are occupied by barley. Currently, there are over 30 cattle on the farm, from which - seven dairy cows.
For efficient farm work, the woman uses a tractor and other necessary equipment.
Now the farmer is borrowing 35 000 € from the HeavyFinance community.
The funds will be used to cover the balance of the existing loans (LT0000051 and LT0000235), which is 18 089,82 €. The investors have already earned nearly 4 000 € in interest on the above mentioned loans. All instalments are made on time.
The remaining part of the loan will be used for the working capital of the farm, which will ensure proper preparation for the new season. To secure her commitment, the farmer is pledging 3 plots of land (28,92 ha).
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.