HeavyFinance has shared the latest platform portfolio performance review for the month of August 2024.
As summer draws to a close, HeavyFinance are pleased to share that the month wrapped up on a high note for our investor community.
This month saw a substantial €.36 million invested “across 32 agricultural projects on the HeavyFinance platform.”
With this latest influx, their total loan issuance since inception has “surged to 59.43 million EUR.”
To date, HeavyFinance have successfully “repaid €26.83 million in principal to our investors, along with €6.23 million in interest and €1.16 million in delayed interest.”
In August alone, investors received €1.23 million in repayments, including 977K EUR in principal, €186K in interest, and €54K in delayed interest. Looking ahead, 0.87 million EUR in repayments are scheduled for September 2024.”
Based on the repayment schedule, 75.3% 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 9.93M EUR representing 16.7% of the total issued amount.”
The following table demonstrates the farmers’ repayment habits in “a more detailed manner by depicting loans with factual repayment delinquencies.”
As of now, 81.0% of the payments have either “been made within the last 30 days or have already been fully settled.”
The available data demonstrates the loan originations, principal repayments, and interest payments for each quarter “according to the repayment schedules.”
For example, during Q2 of 2021, 4.01M EUR of loans “were funded, of which 3.59M EUR has already been repaid along with 649K EUR of interest. 35K EUR is overdue for less than 90 days and 314K EUR is overdue for over 90 days. (If at least 1 installment is overdue, we treat the whole principal amount as being late).”
In August, 47 loans were fully repaid “to the HeavyFinance investors, which generated an average factual return rate of 13.43%.”
Notably, the factual return rate ranged “from 19.23% to 9.87%.”
The total issuance for the loans amounted to 974K EUR. Investors have “received 172K EUR in interest and 22K EUR in delayed interest for the loans that were fully repaid during August.”
During August 2024, 202.5K 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 2.93M EUR.”
The data represents recovery in time. The principal amount that “defaulted in 2021 H2 is recovered in full with interest, resulting in a 110.35% recovery rate.”
A few months ago, HeavyFinance updated their platform to “include an estimation of the CO2 emissions being addressed in our projects to inform our investors of the impact they’re making on the environment.”
Additionally, for those interested in Green Loans, HeavyFinance have launched “a newsletter that covers monthly updates of the carbon credit market, and updates concerning our Carbon Farming Projects.”
