This project gives the HeavyFinance investors the opportunity to invest in a Lithuanian company, which specializes in livestock breeding. The financing will be used to increase the number of beef cattle and biological assets (beef cattle) that will be pledged to secure the loan.
Ekoangus, UAB is engaged in breeding and growing Angus breed cattle in the Mažeikiai district. Currently, 150 beef cattle graze on the farm, and the most fertile areas of the farm are devoted to the cultivation of feed.
The company's goal is to increase the number of cattle kept. The company forecasts that the income and profit from operations will grow and create more opportunities for the company's development. In the future, Ekoangus, UAB plans to purchase more beef cattle, rent more land and install additional buildings used for cattle. This year is a very successful year for the company - in the first half of the year revenue level has almost reached the sales income of the previous year.
In 2020, the farm received less income and made less net profit compared to the previous year. The head of the company claims that the deterioration in the results was due to the cyclicality of the branch of the farm - there were many young cattle that were not yet suitable for sale. Now, there are more cattle ready for sale on the farm.
The company has already borrowed 53.000 € from HeavyFinance for the purchase of the CASE IH Farmall 150U tractor with Quicke X46 front loader and Wielton PRC-2B-W12 semi-trailer.
Area of declared land: 165,45 ha, from which 50,60 ha is owned by the company.