CenteAgricultural Production Loan
Product Features
- Loan period for working capital purpose is up to a maximum 24 months but development/investment may exceed 24 months.
- No principal loan repayments during the grace period except for the interest, where cash flows allows.
- Repayable through equal instalment payments whose amounts are dependent on the projected cash flow of the agricultural activity.
- Irregular payments can be structured basing on the cash flows.
- Interest charged on reducing balance and flat rate.
- Minimum loan amount UShs. 100,000.
- Payments from other sources of income are allowed.
- Maximum loan amount of up to UShs 40 billion.
Benefits
- Faster Loan processing speed.
- Attractive interest rate.
- Repayment plans structured to accommodate nature of cash flow.
- Grace periods are offered.
- Multiple disbursements offered to accommodate different stages of the production cycle.
Requirements
- Current or Savings Bank account
- Completed loan application form
- Payment of loan processing fee
- National ID
- Project undertaken must be an activity in the agricultural value chain
- Experience in project being undertaken
- Business project must be profitable
- Applicant must be resident within the branch designated area of operation
- Applicant must be owner or tenant of the land on which he/she operates.
- Securities can be mortgaged on titled or unregistered land, moveable assets like cows, goats, sheep, mortgaged household property or business equipment and tools.