As per our investors' inquiries, we are proud to introduce the first alternative crowdfunding product - Heavy Machinery funding. The deal is originated by HeavyFinance is regulated by the Bank of Lithuania. You can read more about Evo alternative and HeavyFinance in this blog article.
The farmer which is borrowing is generating close to 200.000 euros per year in production. HeavyFinance finances 66% of the value of the machinery. Because this is the first deal on EvoEstate by HeavyFinance, the HeavyFinance is offering 12.5% (2.3% interest increase) to all investors investing via EvoEstate.
Ignas Riauba has a mixed ecological farm in Lithuania, Klaipėda county. He grows more than 100 dairy cows and other cattle. Furthermore, he grows spelt wheat, oats, buckwheat among other grain crops.
After more than six years of farming, he owns more than 100 ha of arable and rents more than 350 ha of arable land. Ignas is planning to acquire more land in the future, however, as for now, he decided to invest in buying more heavy equipment.
Therefore, he is buying tracked excavator Case cx180D made in 2016. This heavy-duty vehicle will be employed to cut bushes and clean the land for himself and other farmers around him.
According to the independent valuation company, this tracked excavator is worth €125.235. It was used for 2.207 moto hours and is in a good condition.
To acquire this heavy-duty vehicle Ignas is borrowing €82.750 from the HeavyFinance investor community. Consequently, loan-to-value ratio is 66%. Besides, the principal amount will be paid back to investors in yearly installments, while the interest will be paid monthly.
The financial situation of the farm
To purchase crawler excavator Case CX 180D.
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.
|06.02.2021||Paid||No||28 January 2021, 11:20|
|06.03.2021||Paid||No||17 February 2021, 18:24|
|06.04.2021||Paid||No||07 April 2021, 12:32|
|06.05.2021||Paid||No||05 May 2021, 17:13|