This project provides the HeavyFinance investor community with an opportunity to finance a working capital loan for a well-known used heavy equipment rental company Nova rent.
Launched in 2017, Nova rent is a leader in used equipment rental and service in Lithuania, which is successfully expanding its operations abroad. HeavyFinance investor community has already fully invested in five loans listed in the platform, two of which (150.000 € and 45.000 € worth) have been fully repaid and for the third one (59.000 €) payments have been made on time. The last two loans were the first and second stages of this project. During these projects, Nova rent raised 200.000 € in total. The first stage loan has been already paid to the company.
The company is continuing to borrow funds to increase working capital. This is the third part of the company's financial plan to increase working capital for a rapid expansion. The company's available stock for 166.000 € is pledged to secure the third stage loan.
Fixed annual interest rate - 11,1%