Farmers Group Loan
This product is specially designed for group of farmers engaged in a similar farming activity and want to access credit to finance their farming activities.
Features
- Members of the group must be between the ages of 18 and 70 years, however, above 70 years a member may qualify without insurance cover.
- They must undergo a minimum of 6 weeks education
- Must be engaged in a similar income farming activity
- Must operate a savings account with the bank.
- Group guarantee
- A maximum loan repayment up to 12 months. However, loan period is subject the farming Activity.
- Security is required for amount exceeding GHS100,000.00
- Landed property / vehicle can be used to secure this facility
Benefits
- Easy access to loan
- Flexible terms of payment
- Competitive interest rate
- Free business advisory service
- Training on basic book keeping
- Build up capital for the group