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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.
LT0001237
| Project owner | Address |
|---|---|
| header_1 | Declared | Owned |
|---|---|---|
| Farming land | 74.52 ha | 0.00 ha |
| 2021 | 2020 | |
|---|---|---|
| Revenue | 77,893.00 € | 57,346.00 € |
| Net profit | 31,617.00 € | 17,152.00 € |
| Equity ratio | 16.57% | - |
Documents
Payment schedule
The young farmer registered his farm in January 2019, but he gained experience on his grandfather's farm. He now manages 74 hectares of land and grows wheat, barley and rapeseed.
The man does all farm work on his own and does not hire any additional staff. The farmer inherited his grandfather's tractor, combine harvester and other cultivation tools. The farm currently has a John Derre tractor bought last year, a combine harvester made in 1980, which is now worn out, and these smaller implements.
Next on the roadmap, the farmer plans to expand the area of land under cultivation to 150 hectares.
For his second project on the Heavy Finance platform, he is aiming to borrow EUR 56 500 to purchase a much newer and more efficient New Holland combine harvester made in 2008. The loan will be secured not only by a pledge on the combine harvester to be purchased, but also by an 80 % guarantee by the Agricultural Guarantee Fund (an individual guarantee provided by the governmental development institution, the Lithuanian Agricultural Credit Guarantee Fund).
The businessman has one existing loan LT0000810 with an active loan balance of 10 051,72 €. He has been meeting all his obligations on time with zero delays.
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.