CenteAgricultural Farm Equipment Loan

Short and medium-term loan targeted at producer-farmers and commercial-farmers for the purpose of financing purchase of small and high value farm equipment respectively. Small value equipment can include items such as sprayers, farm tools like pickaxes, hoes, steel ploughs, paddlers and tractor attachments/accessories, fodder cutting machine, tractor oil engine, and pump etc. Higher value farm equipment, are big-ticket equipment such as tractors, combine harvesters, rice haulers etc.

CenteAgricultural Farm Equipment Loan

Product Features

Interest rate charged on declining balance as per reining regimes for micro, SME, and corporate loans.
Loan amount of 50% to 75% of the purchase price of equipment.
Maximum loan tenor of 60 months (5 years).
Mode of repayment is fixed to the borrower’s net cash surplus arising from proceeds for sale of produce.

Benefits

Attractive interest
Faster loan processing speed
Equipment finance can be security

Requirements

Clients of consent age engaged in agriculture
Current or Savings account
Completed loan application form.
National ID.
Payment of loan processing fees as per reining regimes of micro and SME/ Corporate loans.
Borrower own contribution of 20% to 50% for commercial farmers.
Farming a minimum of 10 acres for commercial farmers.
Personal guarantee by two people is acceptable to the bank.
Chattel mortgage on equipment purchased.
Security acceptable to banks such as mortgage of land/other property.

Currency	Buying	Selling
USD	3350	3585
GBP	4460	4804
EUR	3849	4202
KES	23.69	29.14
TZS	1.14	2.68
ZAR	177.79	215.62
CNY	374.89	609.20
RWF	1.62	3.51

Savings Accounts

Investment Accounts

Agriculture Loans

Current Accounts

Housing Loans

Energy Loans

Development Loans

Foreign Currency Accounts

SME Group Accounts

SME Corporate Accounts

Corporate Loans

CenteAgricultural Farm Equipment Loan

CenteAgricultural Farm Equipment Loan

Product Features

Benefits

Requirements

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