This project provides HeavyFinance investor community with an opportunity to invest in a loan, secured by a first-rank mortgage on 39,2 ha of arable land in Lithuania. 

The project owner Osvaldas Gritėnas started farming in 2007 and has been expanding the farming territory since then. Now the farm declares 248 ha of arable land, has two tractors, a combine harvester among other equipment needed for farming. 

Part of this land is being used to raise sheep. It is a quite uncommon farming activity in Lithuania, however, an increasing number of farmers start raising domestic sheep due to higher prices of lamb in international markets. Furthermore, another part of the land is dedicated for ecological farming. Osvaldas, therefore, receive more money in subsidies because ecological farming is one of the EU supported priorities. 

The funding target for Osvaldas project is €83.000. He is willing to use this money for both debt refinancing and to prepare for the new season. 

Collateral

• 39,2 ha of arable land. (first-hand mortgage)
• Value of mortgaged property: €130.600
• Loan to current asset value ratio: 64%

Interest rate 12%