Initially Magava, UAB is a pond digging company, which got into the retail business of heavy-equipment several years ago. Recently, the company decided to expand its’ operations into a heavy-equipment rental business and put the first excavator for lease.
After harvesting season, when prices of harvesters plummet, the company decided to acquire a harvester Claas Lexion 770 TT Cemos made in 2013. The company is planning to prepare it for the next season and put it on lease. This heavy-duty vehicle cost almost 189.000 Eur including VAT. Therefore, Magava want to borrow 132.000 Eur and use this Claas Lexion 770 TT Cemos as collateral.
Sales revenues of Magava exceeded 447.000 Eur last year in comparison to 630.000 Eur in 2018. Furthermore, the company got 30.000 Eur loss in 2019 and 22.000 Eur loss in 2018.
- Investing from 100 € - interest 10,5%
- Investing from 1.000 € - interest 11%
- Investing from 5.000 € - interest 11,5%
- Investing from 10.000 € - interest 12%
- Investing from 30.000 € - interest 13%
At present, the Platform Operator does not make it possible to transfer claim rights that are acquired by concluding financing transactions through the Platform. (No secondary market)
Purpose of the loan:
To purchase a 2013 harvester Claas Lexion 770 TT Cemos.
Project investment return and interest payment:
- Start of the loan financing period on the HeavyFinance (Platform Operator) platform: 2020-09-23
- End date of the financing period: 2020-10-07, or until the loan is fully financed.
- Investment: from 100 €
- Annual return on investment: from 10,5% to 13%.
- Loan term: 24 months
- Interest is paid on yearly basis and the first interest payment is made one year after the loan disbursement date. Principle will be repaid with the last interest payment.