Descripton

Introduction

This project provides the HeavyFinance investor community with an opportunity to finance an equipment loan for a Lithuanian company UAB Geri grūdai. The received funds will be used to purchase a used Case IH Axial-Flow 9230 combine harvester.

The company, established a few years ago, is actively preparing for the 2021 season. To maintain a successful farming process, the company needs a combine harvester. UAB Geri grūdai is borrowing 116.800€ from the HeavyFinance investors community to purchase a used Case IH Axial-Flow 9230 combine harvester (made in 2013). The full price of the harvester is 166.980 €, so the remaining amount will be covered by the company itself. The purchased technical unit will be pledged to secure the loan.

This is not the first UAB Geri grūdai project on the HeavyFinance platform - recently the company borrowed 50.000€ to increase working capital. The company makes loan payments on time.

UAB Geri grūdai also uses two tractors, a loader, and other heavy equipment on its farm.

The risk class for this loan provided by the originator is B.

Interest:

• Investing from 100 € - interest 11,3%
• Investing from 500 € - interest 11,8%
• Investing from 1.000 € - interest 12,2%
• Investing from 2.000 € - interest 12,5%
• Investing from 5.000 € - interest 12,8%
• Investing from 10.000 € - interest 13,2%

Detailed Information

Collateral:

• A harvester Case IH Axial-Flow 9230 (made in 2013), which value is 166.980 € including VAT (according to UAB "Dotnuva Baltic" commercial offer).

Value of mortgaged harvester: 166.980 €

Loan to current asset value ratio: 70%

Firm’s financial information:

Company’s income

• 2020      356.309. €
• 2019       484.567 €

Net profit

• 2020       145.047 €
• 2019        133.103 €

Equity ratio

• 2020      30%
• 2019       21%

The Project Owner will repay the principal amount of the loan according to the following schedule:

• 2021-11 (38.563 €)
• 2022-11 (38.932 €)
• 2023-11 (39.305 €)

The Interest will be paid monthly.

The Interest is calculated from the date on which the loan amount is paid.

Additional information:

Minimum loan term: 4 months

Project owner

• Geri grūdai, UAB
• Sodų St. 2A, Aukštikalniai, Pasvalys district.

Project risks

• 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.