Agribusiness Loans
The loans are ideal for all agribusinesses and the maximum loanable amounts depend on the size of the business, asset value and ability to repay. The agribusiness loans include order financing, working capital, bridging loan facility, bank guarantees and asset financing. The loans can be issued to an agribusiness or a group of agribusinesses where they can guarantee one another in order to reduce default risk.
Minimum Requirements
As per agribusiness definition and meeting the following minimum requirements:
- Agribusiness or corporate account operated for at least 3 months.
- Cover application letter for the required facility.
- Official tenure of land (original offer letter, title deed or lease agreement from titleholder).
- Brief business profile and proposal to cover current operations, proposed enterprises, marketing arrangements and project management structure.
- Certified copy of national identity documents and proof of residence (individual applicant and/or company directors).
- Insurance policies cover; keyman’s life, crop/ livestock, farm machinery/equipment, and loan protection.
- Current banking arrangements with other banks. (Bank, branch, account number, branch/relationship manager, time with the Bank.)
- Cash flow projection covering the tenor of the facilities being applied for.
- Tobacco growers to also submit grower’s number.
- Attach copies of quotations from reputable suppliers for Capital Items to be financed.
- Cash budget for crop to be produced (outlining prices of inputs and output as well as expected profit).
- Production schedule outlining hectarage, timelines and expected yields.
- Irrigated/dryland farming (to be stated clearly in a brief business outline).
- Collateral: immovable property with title deed and valuation report/ cash deposits/investments personal / group guarantees (Terms and Conditions apply.)
