Agriculture loan +State guarantee

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.

LT0001115

Goal
30,000 €
Raised
30,000 €
100%
Return rate
From 8.6%
Rating
A+
Period
22
Time left
LTV
37%
Country
Lithuania
Loan purpose
Equipment purchase
Business information
Security measures
Loan history
Project owner Address
Xxxxxx Šxxūxxx Xxxxxxxxxx
Xxxxxxxšxxx xxxx., Xxžūxų Šxxxxų xxx.
header_1 Declared Owned
Farming land95.70 ha5.70 ha
20212020
Revenue 112,238.00 € 132,656.00 €
Net profit 42,614.00 € 56,458.00 €
Equity ratio 52.23% -
Project description
Documents
Payment schedule
A farmer started farming in Vilkaviskis District in 2015. He currently cultivates 95.7 ha of land, of which he owns 5.7 ha. The farm grows crops such as wheat, rapeseed, beans and peas.

The entrepreneur carries out all the farm work using his own machinery: a tractor, a sowing machine and other smaller implements.
The main buyers of the produce are AB "Linas Agro", ŽŪB "Vilkaviškio grūdai" and UAB "Baltic agro".

With his first project on the Heavy Finance platform, the farmer aims to borrow 30 000 EUR. The funds will be used to purchase a New Holland combine harvester, on which the mortgage will secure the repayment of the loan.

Moreover, the loan is also guaranteed by a 80% individual guarantee provided by the State-owned National Development Institution, UAB Agricultural Loan Guarantee Fund (ALGF). The guarantees provided by the EAGGF ensure that if the borrowing business or farm is unable to meet its financial obligations, up to 80% of the arrears will be covered by the state-guaranteed guarantee institution, EAGGF.

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.