Descripton

Introduction

Individual guarantee

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. Please read more about individual guarantees and benefits this scheme provides for investors in our news section.

About the project

With this project, we invite you to invest in the expansion of the farm's technical fleet. The funding received will be used to purchase a new round baler. The loan will be secured by a pledge of the purchased equipment.

The farmer, who has been engaged in farming activities since 2008, currently cultivates a 180.89 ha mixed farm in Rokiškis district. More than 140 cattle are raised on the farm, as well as crops like triticale and wheat. Part of the farmland is used for fodder production. In addition to the main income of the farm, last year the businesswoman earned additional money from the successful sale of hay bales and equipment rental, as the farmer rented a tractor to a construction company for road construction works in the area.

This year, the farmer plans to sell about 100 cattle, a similar amount of hay bales as last year, and rent a tractor again for road construction.

To properly prepare for the mowing season, the farmer borrows 38.600 € to buy a new round baler Massey Ferguson RB 3130 Xtra.

Equipment seller: AB East west agro

Area of declared land: 108,89 hectares, from which 33 hectares are owned by the farmer

Annual interest

• Investing from 100 € - interest 10,1%
• Investing from 500 € - interest 10,8%
• Investing from 1.000 € - interest 11,1%
• Investing from 2.000 € - interest 11,6%
• Investing from 5.000 € - interest 11,8%
• Investing from 10.000 € - interest 12,2%

Detailed Information

Security measures of the loan

• New round baler Massey Ferguson RB 3130 Xtra, which value is 42.955 € including (based on the commercial offer from a trusted seller)

Value of pledged assets: 42.955 €

Loan to current asset value ratio: 89,86%

• Individual guarantee of 80% provided by a governmental development institution Agricultural Credit Guarantee Fund of Lithuania.

Financial information

Income

• 2020:      45.622 € (from which grants - 22.214 €)
• 2019:      43.287 € (from which grants - 23.164 €)

Net profit

• 2020:      619 €
• 2019:      -24.841 €

Equity ratio

• 2020:      47,37%
• 2019:      37,45%

The project owner will repay the principal according to the schedule below:

• 2021-12 (12.744,15 €)
• 2022-12 (12.866,28 €)
• 2023-12 (12.989,58 €)

The Interest will be paid monthly.

The Interest is calculated from 16 working days after full loan financing.

Additional information:

Minimum loan term: 4 months

Project owner

• Farmer Violeta Mackutė
• Address Rokiškio district, Sėlynės village

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.

Detail Descripton