ELANA Agrocredit

What ELANA Agrocredit does

ELANA Agrocredit AD is a Bulgarian public financial leasing company specialized in financing the purchase of agricultural land. Established in 2010 and operating since late 2012/2013, the company was the first specialized agricultural land leasing institution in Bulgaria and holds a Bulgarian National Bank financial institution license (BGR00299). It is a subsidiary of ELANA Financial Holding and has been listed on the Bulgarian Stock Exchange (ticker OEA) since November 2013, joining the SOFIX index in September 2018.

The company's product suite comprises three core offerings: (1) financial leasing for agricultural land with a 20% farmer down payment, a fixed 8.5% annual interest rate, single annual payments, and terms up to 10 years, collateralized by the purchased land itself; (2) revolving working capital credit for existing leasing customers with no early repayment fees; and (3) financing for permanent crop establishments (orchards, vineyards) with terms up to 15 years and grace periods up to 18 months. It supplements these with online lease and credit calculators, online application forms, and a Bulgarian land market information service. The platform is conventional financial leasing infrastructure with no disclosed AI/ML capabilities.

ELANA Agrocredit distributes through 20+ regional offices across Bulgaria and a network of 70+ specialized regional agents with relationships to over 2,500 farmers across 20 agricultural regions. Revenue is generated primarily through interest income on lease receivables (8.5% fixed annual rate) and per-decare service fees (8 BGN/4.09 EUR per decare per year). The company has funded growth through its 2013 IPO, two subsequent capital increases (BGN 14M in 2015 and BGN 19.5M in 2018), a 2017 corporate bond issuance, and debt facilities from EBRD (EUR 5M, 2014), Societe Generale Expressbank (BGN 3M, 2014), and United Bulgarian Bank (up to EUR 5M, 2025). It reports a 100% historical collection rate on lease installments.

Name

ELANA Agrocredit

Legal name

Елана Агрокредит АД

Website

https://agrocredit.elana.net

Company type

Public

Founded year

2010

Operating status

Operating

Headcount range

1–10 employees

Short description

ELANA Agrocredit is a Bulgarian public financial leasing company that provides specialized land-purchase financing to agricultural producers. Operating through 20+ regional offices and 70+ agents across Bulgaria, it has been listed on the Bulgarian Stock Exchange since 2013.

Ownership category

akta.pro rank

Product category

Agricultural Finance / Financial Leasing

NAICS

Sales Financing (52222)

SIC

Finance Lessors (6172)

akta.pro primary industry

Rent-to-Own (RTO) Consumer Leasing (FSAKANAE)

Keywords

• Agricultural land leasing
• Financial leasing services
• Working capital loans
• Permanent crop financing
• Agricultural lending

Headquarters

HQ city

Sofia

HQ country

Bulgaria

HQ region

Europe

Offices20 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Others

Revenue model

1. Financial Leasing Interest Income: Revenue generated from fixed annual percentage (8.5%) charged on outstanding lease amounts for agricultural land purchases over up to 10-year terms.
2. Service Fees: Fixed annual service fee of 8 BGN/4.09 EUR per decare charged for account maintenance and contract management.
3. Credit for Working Capital: Loans for operational funds based on individual credit limits for existing leasing customers, with no early repayment fees.

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels4 records

Core offering

ELANA Agrocredit provides financial leasing services that enable Bulgarian agricultural producers to purchase or expand their agricultural land holdings. The company finances land acquisitions with a 20% farmer down payment, a fixed 8.5% annual interest rate, a fixed annual service fee, and a single annual payment structure over contract terms of up to 10 years (or up to 15 years for permanent crop plantations). Collateral is the purchased land itself, which transfers to the farmer upon final payment.

Product overview

ELANA Agrocredit operates as a specialized financial leasing company offering three core financial products: (1) Financial Leasing for Agricultural Land enabling farmers to purchase land with 20% down payment, fixed 8.5% annual rate, and annual payments over up to 10 years; (2) Credit for Working Capital providing revolving credit facilities secured by leased agricultural land; and (3) Financing for Permanent Crops Establishment with terms up to 15 years and grace periods up to 18 months. The company supplements its financial offerings with digital tools including online application forms, lease calculators, and credit calculators, plus a land market information service providing Bulgarian agricultural land statistics. All products are targeted exclusively at agricultural producers in Bulgaria.

Differentiator

Problem solved

Functional benefit

Products and services

• Financial Leasing for Agricultural Land Core financial leasing product that enables Bulgarian agricultural producers to purchase agricultural land with a 20% own contribution, fixed 8.5% annual interest rate, fixed annual service fee of 8 BGN/4.09 EUR per decare, and a single annual payment over terms up to 10 years. The purchased land serves as collateral and transfers to the farmer upon final payment.
• Credit for Working Capital

Quantifiable outcome

• 100% payment collection rate on lease installments
• +3 more outcomes

Named customers2 records

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Partnerships

One partnership is on record.

• Agromanagement OODcoreStrategic or Co-development PartnerAgromanagement OOD provides management services and expertise in agricultural land transactions, with Georgi Georgiev serving as Managing Director and Executive Director.

Scale indicators18 records

Recent moves11 records

Expansion highlights5 records

Direct peers

• ProCredit Bank Bulgaria: A Bulgarian commercial bank with a strong focus on agricultural and SME lending. ProCredit Bank Bulgaria competes directly with ELANA Agrocredit for the same farmer customer base in Bulgaria and offers comparable agricultural loan products, making it the closest in-market comparable.
• AGCO Finance: Captive finance arm of AGCO, one of the world's largest agricultural equipment manufacturers. AGCO Finance uses a similar specialized lending/leasing model targeting farmers for asset purchases, making its underlying business mechanics closely comparable to ELANA Agrocredit's farmer-focused lease book.
• CNH Industrial Capital: The financial services arm of CNH Industrial (Case IH, New Holland) providing loans and leases to farmers purchasing agricultural equipment. Comparable business model — specialized credit intermediation targeting agricultural producers for asset purchases.
• DLL (De Lage Landen): Rabobank-owned global vendor finance company with a significant agricultural equipment financing business. DLL's model of partnering with manufacturers/dealers to finance farm asset purchases is structurally similar to ELANA Agrocredit's regional agent network.
• John Deere Financial: Captive finance arm of John Deere providing loans and leases to farmers for equipment purchases. Comparable model: specialized asset financing targeted at agricultural producers with dealer-driven origination, analogous to ELANA's agent-driven origination.

Broad incumbents

• Rabobank: Global leader in agricultural and food sector finance. Rabobank serves the same end-customers (commercial farmers) with a far broader product suite including land, equipment and working capital financing, but its scale and global footprint dwarf ELANA Agrocredit's Bulgarian niche.
• UniCredit Bulbank: Largest Bulgarian bank and a significant agricultural lender in the country. While its offering is far broader than ELANA's, it competes directly for Bulgarian farmer financing relationships and is a logical benchmark for in-market funding costs and lending terms.
• KBC Bank: Belgian bancassurer with a meaningful Central and Eastern European franchise and a focus on SME and agricultural lending. Comparable as a broader incumbent player offering agricultural finance products to similar farmer demographics in the region.
• DSK Bank (OTP Group): One of Bulgaria's largest banks, part of Hungary's OTP Group, with significant agricultural lending exposure. Competes for the same Bulgarian farmer customer base and provides benchmark pricing for in-country credit products.

Regional players

• Bulgarian Development Bank: State-owned Bulgarian development finance institution that funds agricultural and SME lending through partner banks. Operates in the same domestic agricultural finance ecosystem as ELANA Agrocredit and shapes the competitive landscape for subsidized farmer credit.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• Facebookfacebook.com/profile.php
• LinkedInlinkedin.com/company/elana

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Subsidiaries1 record

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about ELANA Agrocredit