HeavyFinance investors financed €1.8m of agricultural projects in May
Investors financed €1.8m (£1.5m) of agricultural projects through HeavyFinance last month.
The capital was spread across 56 different loans and brings the total funding issued to farmers to date to €37.89m, as of the end of May.
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“We are happy to see that the growth is heavily accelerated by new German, French, and Spanish investors who see agriculture as a great sector to diversify their portfolios and make some real positive impact in fighting climate change,” HeavyFinance said.
Last month, 26 loans were fully repaid to investors and seven were terminated and fully repaid by HeavyFinance, the firm said in a blog post on its website.
The repayment volume is increasing on a year-on-year basis, Heavy Finance said. According to the repayment schedules, 76.2 per cent of loans are being paid on time or have already been repaid.
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The Lithuania-headquartered firm conducted an auction process, selling assets like a Fendt tractor and land plots in order to recover outstanding debts, including interest, penalties, and other payable amounts.
The total amount recovered from defaulted loans was €192,000 and was distributed to investors. Total recovered funds from defaulted loans now amounts to €874,000.
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