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The farmer got granted an individual guarantee of 80% provided by a governmental development institution Agricultural Credit Guarantee Fund. Individual guarantee means that in case of a default, the Fund pays the difference between the unpaid credit amount or any portion thereof, and the income received by the credit institution from the exaction.
This project provides the HeavyFinance investor community with an opportunity to invest in the development of the Lithuanian ecological farm. The financing will be used for the purchase of a farm complex. The purchased complex will be pledged to secure the loan.
The borrower has already engaged in mixed farming for 13 years and now successfully manages a 327.27 ha organic farm in the Anykščiai district.
On the farm, half of the land is covered by crops, and the rest is meadows, where beef cattle graze. The farmer currently owns 2 bulls, 65 cows, and about 50 young calves and heifers. Farming traditions are also nurtured by the farmer's family - the businessman's mother has about 180 hectares of land and his wife has 125 ha. The family manages the entire area of land together.
HeavyFinance investors have already provided financing for previous farmer’s loan projects for the acquisition of new heavy equipment with National Paying Agency support and land.
After upgrading the farm’s heavy machinery fleet, the farmer is planning to implement a farm complex project. For this purpose, the businessman is borrowing 153.000 €.
Currently, the farm’s technical fleet consists of four tractors, a combine, a drill, a rake, a cultivator, and other necessary equipment.
The farmer's future development plans are quite ambitious -the businessman plans to participate in the short-circuiting program this year and after the successful acquisition of the farm complex, the farmer promises to participate in the farm reconstruction program in October. The vision of the farm is to raise not only beef cattle but to purchase 200 piglets after the reconstruction of the two farm buildings. Installation of meat workshop is also in the farmer's plans. the new instalments will provide an opportunity for Utena residents and passers-by to purchase organic natural beef and, in the future, pork. Besides, the project owner is ready to install a solar power plant on the roofs of the farm, which will provide ecological green fuel.
Area of declared land: 327,27 hectares
Value of pledged assets: 240.102€
Loan to current asset value ratio: 63,72%
The Interest will be paid monthly.
The Interest is calculated from 16 working days after full loan financing.
Minimum loan term: 4 months