Overview
Post-harvest short-term loan targeted at crop Producer-farmers, Processors and Wholesalers and or Dealers for procurement of produce during harvest, financing expenses directly related transportation, storage and or to cater for working capital needs for stocking with a sole aim to re-sell in the near future. The loan is restricted to agricultural crop commodities that have a sustained demand throughout the year (such as maize, rice, millet, sorghum, oil seeds etc.)
Product Features
Interest charged on a declining balance
Read MoreLoan amount limited to 60% and 50% of market value of produce harvested and offered as collateral for Producer farmers and Processors/Dealers respectively
Read MoreMaximum loan tenor of 2 and 12 months for Producer- farmers and Processors/ Dealers respectively
Read MoreBenefits
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
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