Deividas Kinta has been running a family farm in Lithuania where he owns 50 ha of arable land and is renting around 120 ha of land as well. The farm grows spring triticale and winter triticale among other grain crops.
After a good harvesting season, the businessman decided to accelerate the growth of the farm by purchasing more heavy equipment and preparing to buy some more land. At this stage, Deividas is buying a used combine harvester John Deere 9640 WTS for €42.350 including VAT.
However, expansion requires extra capital, thus, the farmer is borrowing €44.050 from HeavyFinance community of investors to purchase this combine harvester and prepare it for the next season. This equipment loan is backed with two heavy-duty vehicles:
Therefore, the loan-to-value ratio is 52%
Sales revenue and subsidies
To purchase harvester John Deere 9640 WTS
The seller of John Deere 9640 WTS is considered to be a person related to the Platform operator (its shareholder). The platform operator shall ensure that the value of the item corresponds to the market price.
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.
|23.01.2021||Paid||No||25 January 2021, 00:00|
|23.02.2021||Paid||No||23 February 2021, 00:00|