Descripton

Introduction

This project provides the HeavyFinance investor community with an opportunity to invest in the equipment loan for a farm, which is based in Mažeikiai district, Lithuania.

The businessman started farming seven years ago and now declares more than 90 hectares of arable land, 25 hectares of which he currently owns. On a mixed farm, the businessman grows more than 20 animals, various plants too.

The project owner already has a tractor and several more heavy-duty vehicles needed on a farm. Furthermore, he is sharing some vehicles with his father, who owns a bigger farm than his son.

However, to prepare for a new farming season and to increase the efficiency of the farm, the businessman decided to purchase the sprayer Amazone UG 3000 Special for 46.585€. You can find more information about this sprayer in the commercial offer provided to the farmer by the company SV technika.

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

Interest

• Investing from 100 € - interest 10%
• Investing from 500 € - interest 10,8%
• Investing from 1.000 € - interest 11,5%
• Investing from 2.000 € - interest 11,7%
• Investing from 5.000 € - interest 12%

Detailed Information

Collateral

• New sprayer Amazone UG 3000 Special (46.585€)

Value of mortgaged property: 46 585€

Loan to current asset value ratio: 58%

Financial information

Total farm income

• 2020        81.000€
• 2019        49.000€

Net profit

• 2020        35.000€
• 2019        26.000€

Equity ratio

• 2020       30%
• 2019        25%                     

The project owner will repay the principal amount of the loan according to this schedule:

• 2021-09 (4 393Eur)
• 2021-12 (4 436 Eur)
• 2022-09 (4 478 Eur)
• 2022-12 (4 521 Eur)
• 2023-09 (4 564 Eur)
• 2023-12 (4 608 Eur)

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

Farmer Vaidas Krakys

Mažeikių r. sav., Ukrinų k., Taikos g. 30

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.