In November 2023, investors invested a total of €2.24M in agricultural projects through HeavyFinance.
€1.90M was reportedly paid out for the farmers “with the capital spread across 54 different loans.”
As of November 2023, HeavyFinance has “successfully issued a total of 46.63 million EUR in loans to farmers.”
Year over year, they’re reportedly seeing “a significant increase in repayment volumes, which is a positive trend for our investor community.”
This increase directly benefits their investors, who are “receiving returns in the form of interest and additional earnings from delayed interest.”
To date, the principal of 17.97M EUR has already “been repaid to investors with 4.64M EUR in interest and 687K in delayed interest. During November our investors received 1.39M EUR in repayments – 1.14M EUR principal, 213K EUR interest, and 41K in delay interest. 3.7M EUR of repayments are scheduled for December.”
As of now, based on the repayment schedule, 74.9% 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 5.94M EUR representing 12.7% of the total issued amount.”
In November, HeavyFinance investors reportedly “witnessed the full repayment of 33 loans, including 32 regular loans and the first Green Loan.”
The regular loans generated “an average factual return rate of 13.78%. Notably, the factual return rate ranged from a high of 18.84% to a low of 11.40%. The total issuance for regular loans amounted to 729,000 EUR, with an additional 110K EUR for the Green Loan. Investors received 131K EUR in interest and 10K EUR in delayed interest for the loans that were fully repaid during November.”
Positive news for investors in project LT0001331: The principal loan has been fully repaid in just six months. This swift repayment enables “the investors to reinvest the funds in other promising loans. Additionally, they’ll continue to earn passive income from the sale of carbon credits generated by this project.”
Recovery
During November 2023, 206.3K EUR was “recovered from defaulted loans (loans, where the contract with the borrower is terminated and a hard recovery process was initiated) and distributed to investors.”
The total recovered funds from defaulted loans amount to 1.7M EUR.
As stated in the update from HeavyFinance, the principal amount that “defaulted in 2021 H2 is recovered in full with interest, setting a 110.35% recovery rate.”
As the final quarter of the year comes to an end, they’re optimistic “about the increased repayments from farmers, aided by the harvest and subsidy payments.”
