HeavyFinance allocates €1.33m in July
European agricultural lender HeavyFinance has reported €1.33m (£1.14m) of lending on the platform in July, across 52 agricultural projects.
Total loan issuance since the company’s inception reached €58.33m by the end of July 2024.
To date, the principal of €25.85m has already been repaid to investors with €6.05m in interest and €1.09m in delayed interest.
Read more: IDH Farmfit Fund and Oikocredit partner to finance smallholders
During July investors received €1.06m in repayments, of which there was €819,000 principal, €185,000 in interest, and €52,000 in delay interest.
A further €0.82m of repayments are scheduled for August 2024.
Based on the firm’s repayment schedule, 74.7 per cent of loans are being paid on time or have already been repaid.
Meanwhile, loans with a principal overdue by more than 90 days amount to €9.86m representing 16.9 per cent of the total issued amount.
Read more: Groupama launches agricultural private debt fund
During July, 28 loans were repaid in full, which generated an average factual return rate of 13.27 per cent.
The platform reported that the factual return rate ranged from 19.78 per cent to 9.74per cent.
The total issuance for the loans amounted to €731,000. Investors received €120,000 in interest and €20,000 in delayed interest for the loans that were fully repaid during July.
Read more: HeavyFinance sees increase in repayments
