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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.
LT0001108
| Project owner | Address |
|---|---|
| header_1 | Declared | Owned |
|---|---|---|
| Farming land | 55.38 ha | 27.42 ha |
| 2022 | 2021 | |
|---|---|---|
| Revenue | 146,024.00 € | 89,694.00 € |
| Net profit | 66,265.00 € | 23,707.00 € |
| Equity ratio | - | 15.71% |
Documents
Payment schedule
The owner of the project, who has been farming since 2009, runs a 55,38 ha crop farm in the Skuodas district. He grows wheat, which accounts for 50% of the farm, and 25% each of rapeseed and barley. The project owner takes care of the farm by himself, sometimes with the help of family members.
The entrepreneur uses his own equipment to run the farm: two tractors, a plough, a cultivator and other necessary equipment. Since the last project, a new trailer has been added to the farmer's fleet. As well as a combine harvest which he recently replaced to the new one last December. The farmer's main ambition is to expand the area under cultivation.
The HeavyFInance investor community has contributed to the development of the farm through the loan LT0000340 and LT0000557 with a total amount of 36 320 €. The farmer has already repaid 11 983 € in principal and investors already earned 3 685 € in interest. To date, the balance of existing loans on the platform is 24 336,83 €, the farmer has been meeting his obligations with a timely manner.
With this project, the entrepreneur aims to borrow 15 000 EUR, part of the funds will be used to cover the remaining principal payment of the loan LT000340 and the remaining amount will be used to prepare for the next season.
Declared land area: 55,64 ha, of which 27,42 ha are owned.
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.