October 18, 2019

AGRICULTURAL FINANCE CORPORATION

MACHINERY

Product description

This loan is for the purchase of farm machinery to facilitate production and transportation of farm produce. This is a direct response to the low uptake of technology and mechanized agriculture that continues to negatively impact on productivity levels. Apart from the convenience, increased mechanization and yields, an individual who comes for this loan product is assured of getting extra revenues from their farm machinery through hiring out to those who don’t have it.

Features

Repayment of 2-5 years with annual installments
Designed for individual & groups

Items Financed

Farm machinery and implements.
pick-up and truck for transport of farm produce

Requirements/Eligibility

Machinery/vehicle to be registered jointly with afc
Provide a written quotation from reputable suppliers
Machinery to be insured with comprehensive insurance cover
Minimum deposit of 30% of net purchase price for new machinery and 50% deposit for reconditioned machinery
Provide a written quotation from reputable suppliers

AGRIBUSINESS

Product description

These are loans designed to benefit agri-business traders. It is meant to provide start-up capital for those seeking to start, or are engaged in agricultural microenterprises. There exist huge opportunities for the youth in agricultural micro and small medium enterprises across the value chain. Thus, beneficiaries of this loan facility will engage in wealth creation and for those unemployed, resolve their unemployment challenges.

Features

Designed for individual & groups
Repayment period up to 3years
Interest rate is 15% per annum

Items Financed

Marketers and processors farm produce
Traders, transporters, marketers and processors farm produce.

Requirements/Eligibility

Viability of the business
Viability of the business
Tangible security for the loan
20 % equity contribution towards the project.

LIVESTOCK AND FISHERIES DEVELOPMENT

Product description

These are loans for livestock and fisheries production. The livestock sector contributes about 12% of Kenya’s Gross Domestic Product, 40% to the agricultural GDP and employs 50% of agricultural labor force. Thus, it is an area with huge potential for individuals to invest in as a business

Features

Repayment period 2-5 years at annual installments
Designed for individual & groups

Items Financed

Dairy and beef production.
Sheep and goat production
Bee keeping
Piggery and poultry product
Working capital
Fish production

Requirements/Eligibility

Tangible security for the loan
Suitability of the project
Experience in the enterprise livestock & fish production

CASH CROP

Product description

The credit facility for cash production of tea, coffee, Sugarcane, pyrethrum, cashew nuts, citrus, mango trees, bananas, stevia and other cash crops.

Features

Repayment of 2-5 years with annual installments
Designed for individual & groups

Items Financed

Crop establishment, crop maintenance.
Processing equipment, operating costs

Requirements/Eligibility

Tangible security for the loan
Appropriate and approved crop varieties
Availability of processing facilities within reasonable distances.

STAWISHA GROUP LOAN

Product description

A micro-credit facility targeting groups trading in agricultural produce and agricultural inputs particularly the youths and women who have no tangible security to secure credit. Stawisha Group Loan is in 3 levels which will allow groups to access a higher amount as they successfully grow their business. The challenges facing this target group, such as unemployment and poverty can be addressed by accessing funding and engage in enterprises across the agricultural value chain.

Features