This project provides the HeavyFinance investor community with an opportunity to finance a working capital loan for a well-known used heavy equipment rental company Nova rent.
Launched in 2017, Nova rent is a leader in used equipment rental and service in Lithuania, which is successfully expanding its operations abroad. HeavyFinance investor community has already fully invested in five loans listed in the platform, two of which (150.000 € and 45.000 € worth) have been fully repaid and for the third one (59.000 €) payments have been made on time. The last two loans were the first and second stages of this project. During these projects, Nova rent raised 200.000 € in total. The first stage loan has been already paid to the company.
The company is continuing to borrow funds to increase working capital. This is the third part of the company's financial plan to increase working capital for a rapid expansion. The company's available stock for 166.000 € is pledged to secure the third stage loan.
The risk class for this loan provided by the originator is A.
Fixed annual interest rate - 11,1%
Loan to current asset value ratio: 60%
* The company has a total stock of 1.329.693 €:
The company pledges 166.000 € of its inventory to secure this project.
The project owner will repay the full amount of the loan in 2021, December.
The Interest will be paid monthly.
The Interest is calculated from the date on which the loan amount is paid.
Minimum loan term: 4 months
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.
|22.03.2021||Paid||No||19 March 2021, 13:55|
|22.04.2021||Paid||No||19 April 2021, 20:17|