Agriculture Mechanisation Loan Product
This is a Project Finance loan up to K2,000,000.00 aimed at empowering start-up or existing MSMEs and/or Cooperatives wishing to mechanize their agricultural and/or farming activities across the Country through the use of tractors , combine harvesters, and any other type of farm implements.
LOAN INTEREST AND TENOR
This product will attract 12% interest per annum on the loan amount with a maximum tenure of sixty(60) months. A grace period( or principal repayment moratorium) shall be given to the beneficiary depending on the area of investment to assist set-up and operationalize the project.
The Commission accepts movable and immovable assets as pledged security such as ; Account Receivables ,Machinery, Company stock, Motor vehicles, landed properties, etc.
- MSMEs and /or Cooperatives operating in the Agriculture sector i.e. Crop Production, Livestock, Aquaculture etc with a viable business project.
- Must provide sufficient collateral to secure the loan being applied for.
- Must have a ZRA Tax Payer Identification Number (TPIN)