Revolving Production Loan

This is a credit facility offered to produce farmers for the purpose of financing cultivation expenses such as purchase of agro in-puts including but not limited to crop seeds, fertilizers, pesticides and meeting of labour expenses etc.

Product Features

Credit revolves for a maximum duration of 3 years

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Increase in loan amounts annually by 10%

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Loans are made available for each crop season and repaid

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The line of credit will be for 121% of credit limit accessed for first year

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Interest is charged on declining balance

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Outstanding loan at any time does not exceed the limit for the year

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Requirements

Current or Savings Bank account

Completed loan application form

Payment of loan processing fees

Financial card

Repeat borrowers who have promptly repaid 4 successive agricultural production loans

Farmers area under cultivation or cropping has not changed

Security acceptable such as mortgage including kibanja, chattels, crop insurance etc.

Personal guarantee by two (2) Guarantors

Letter of Continuing Security in case of loans secured by mortgage

Loan request-cum-loan document link

Loan officer visit prior loan disbursement at every cycle

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