This loan aids the small-scale farmer by financing the purchase of farm inputs such as certified seeds fertilizers, chemicals and machinery, the hiring of labour and harvesting costs.
Loan amounts granted are between KSh5,000 and KSh100,000.
The repayment period is set at 1 year, or the crop production period/cycle; whichever is shorter.
This product does not finance land leasing. The target beneficiaries of this product are small-scale commercial food crops farmers.
Accepted collateral security includes any combination of:
Chattels mortgage over farm and household assets and livestock
Conventional securities in form of motor vehicle log books, land title deeds etc.
At least two guarantors who are active account holders of Equity Bank
Group guarantees may also be applied as per the agriculture group lending policy
What you require to sign up
You need to be an active account holder with Equity Bank.
Submit your loan application within a reasonable time (preferably one month before the setting in of planting season).
Demonstrate the ability to repay the loan.
Be ready to attend group meetings on weekly basis as stipulated in the agriculture group lending policy (for borrowers under this category).
You need to be in commercial farming with farming experience of at least one (1) successful season.
Be able to clearly demonstrate existence of other sources of income that could be used for loan repayment in case of crop failure, loss of harvest and/or poor marketing due to adverse weather and/or any other factors.
Provide documentary evidence of ownership of the farm to be used for production or a valid lease agreement covering at least two future seasons; the same must be signed and witnessed by a lawyer.
Identify inputs suppliers, negotiate the inputs prices and obtain quotations/pro-forma invoices for the inputs to be financed.
Be able to demonstrate understanding of the market for the commodity being financed.
Additionally Why you should sign up for this product
The beneficiaries will have access to the region's most competitive loan rates.
Training and mentorship programmes will be made available to you.
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