Donatas Sasnauskas is a Lithuanian farmer who launched his business in 2010. Since then, he managed to expand the size of farming land to almost 350 hectares. A big part of this arable land is leased from several owners.
Donatas plans further expansion and the size of arable land may increase to 400 hectares by the end of next year. He mainly grows wheat and rapeseed among other plants. To take care of this farm, he already has three tractors, combine harvester and more heavy-duty vehicles.
While planning the expansion, Donatas needs to acquire a rapid seed drill Vaderstad Rapid 400S and disc cultivator Vaderstad Carrier 400. Both of these machines combined cost 52.100 Eur. In order to make this purchase, the farmer is borrowing 35.500 Eur from lenders through HeavyFinance platform. Besides, for financial protection, he is using these agricultural machines as collateral to make LTV ratio 68%.
According to the financial statement, last year annual revenue of the farm was 150.000 Eur, while in 2018 the farm got revenue of 110.000 Eur. Furthermore, both years were profitable. In 2019 the farmer posted 25.000 Eur in profit. In 2018 business got a profit of 26.000 Eur.
Note, disc cultivator Vaderstad Carrier 400 will be acquired from Latvian branch of the company, therefore, there is no VAT included.