Established in 2013, Magava, UAB is a used heavy equipment rental and sales company based in Lithuania. Seeing that the market of heavy equipment rental is increasing, the company wants to expand operations.
Magava already signed contracts for lease of all agricultural equipment it has. Therefore, the company is acquiring a combine harvester Claas 770 TT for 199.650 Eur including VAT. More than half of the amount the company will pay itself and for the rest 95.240 Eur it seeks to get financing from „HeavyFinance“ investors community.
The company will be paying the interest to the investors on a monthly basis, while the principal amount will be paid back in parts once a year.
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.
To purchase a 2014 harvester Claas Lexion 770 TT.