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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.
LT0001393
| Project owner | Address |
|---|---|
| header_1 | Declared | Owned |
|---|---|---|
| Farming land | 0.00 ha | 0.00 ha |
| 2022 | 2021 | |
|---|---|---|
| Revenue | 1,140,392.00 € | 294,689.00 € |
| Net profit | 13,940.00 € | -29,365.00 € |
| Equity ratio | -1.55% | - |
Documents
Payment schedule
Established in 2013, Magava, UAB is a used heavy equipment rental and sales company based in Lithuania. Seeing that the market for heavy equipment rental is increasing, the company wants to expand operations.
The HeavyFinance investor community has already made a significant contribution to the developments of the company through its seven previous loans, which allows the company to add more equipment to their technical fleet list to rent out. In recent year, the company has managed to increase its revenue over 280% from 2021 and closed the financial year with profit.
Magava UAB. has already repaid three loans on the HeavyFinance platform in full and currently has four active loan, one of which will be refinanced from the funds raised from this loan. After refinancing, the total active balance on the HeavyFinance platform will be 458 902 €. HeavyFinance investors have already earned over €92 700 in interest from Magava UAB.
To secure the loan, the company will pledge the harvester Claas Lexion 770 TT Cemos (made in 2013), which was pledged as collateral for the refinancing loan.
Please note that the interest payment for this loan is scheduled to be paid at the end of the loan period.
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.