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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.

LT0001140

Goal

9,000 €

Raised

9,000 €

Return rate

14.5%

Rating

Period

Time left

LTV

Country

Lithuania

Loan purpose

Working capital

Business information

Security measures

Loan history

Project owner	Address
Xxxxx Xxxčxxxė	Xxxxxx xxxx., Xxžxxxų xxxxxxxxx., Šxxxxxxxxxx xxx.

header_1	Declared	Owned
Farming land	2.31 ha	0.00 ha

	2021	2020
Revenue	15,979.55 €	14,157.21 €
Net profit	-	-
Equity ratio	-	-

Project description

Documents

Payment schedule

A young farmer established a mixed farm in Utena district in 2022.

She immediately applied to the NMA for support to start a young farm and concluded a contract for the use of a 2.31 ha plot of land.

The farmer plans to grow mushrooms, vegetables and set up a bee farm. Following the approval of the project, the farmer was awarded a grant of EUR 38 400 for the purchase of a tractor and implements.

She is now approaching the Heavy Finance community of investors to help her with this project and to provide an additional loan of EUR 9 000. It is worth mentioning that the farmer has a considerable experience in farm management, as her husband has been running a mixed farm since 2014, and agrees to guarantee the project. The man has declared an income of EUR 23 525,87 in 2021 and EUR 16 291,19 in 2020. He is also borrowing from Heavy Finance and has two loans which are being paid without delay.

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.