Crop Marketing Loan
Product Features
- Interest charged on a declining balance
- Loan amount limited to 60% and 50% of market value of produce harvested and offered as collateral for Producer farmers and Processors/Dealers respectively
- Maximum loan tenor of 2 and 12 months for Producer- farmers and Processors/ Dealers respectively
Benefits
- Current or Savings Bank account
- Completed loan application form
- Payment of loan processing fee
- Financial card
- Project undertaken must be an activity in the agricultural value chain
- Experience in project being undertaken
- Business project must be profitable
Requirements
- 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