HeavyFinance has shared their latest portfolio performance review for the month of September 2024.
HeavyFinance notes in its performance review that during September, they reportedly saw a total of €1.33 million invested of which €713K is said to have been allocated across 24 agricultural projects on the HeavyFinance platform.
With this recent platform activity, their total loan issuance since launch has reportedly increased to €60.57 million.
As a platform that has been operating from 2020, they are pleased have facilitated the investment of more than €60 million into European agriculture.
This capital is said to have been distributed across 2,000+ loans and to date, over 712 have been repaid, contributing an “average interest rate” of 13.16 % to our investor community.
To date, HeavyFinance claims that they have now repaid €27.68 million in principal to investors, along with €6.42 million in interest along with €1.20 million in “delayed interest.”
In September of this year, investors have reportedly received €1.09 million in repayments, including €848K in principal, €190K in interest, and €49K in delayed interest.
Looking ahead, HeavyFinance noted that €2.29 million in repayments are scheduled for October 2024.
Based on the repayment schedule, 75.9% of loans are now being paid on time or have already been repaid. And loans with a principal overdue by over 90 days amount to €9.23M representing 15.2% of the “total issued amount.”
The data shared by HeavyFinance indicates the farmers’ repayment habits in a “more detailed” manner by depicting loans with “factual repayment delinquencies.”
As stated in a blog post, 81.0% of the payments have either been “made within the last 30 days” or have already been “fully settled.”
HeavyFinance further noted that during September, 26 loans were fully repaid to the platform investors, which generated an “average factual return rate” of 14.24%.
Notably, the factual return rate ranged “from 18.55% to 11.24%.”
The total issuance for the loans amounted to €673K. Investors then reportedly received €134K in interest and €24K in “delayed interest” for the loans that were fully repaid during September.
During September 2024, HeavyFinance pointed out that €249.5K 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 €3.19M.
HeavyFinance also shared that the principal amount that defaulted in 2021 H2 is “recovered in full with interest,” resulting in a 110.35% recovery rate.
A few months back, HeavyFinance said that they updated their platform to include an “estimation of the CO2 emissions” being addressed in our projects to inform investors of the impact they’re making on the environment.
