Agricultural Loans in Uganda- Get the Fast and Quick from a Bank

Agricultural Loans

Loans designed to finance business activities in the agricultural production, processing and marketing value chain, animal production (diary, poultry and piggery projects), fishing and fish farming, bee keeping as well as food processing i.e. grain mills, oil mills and hullers. The loan period and repayment plan is dependent on the nature and season of the agricultural activity to be financed.
Main Features:

* Loan period for working capital purpose is up to a maximum 12 months but development / investment may exceed 12 months.
* No principal loan repayments during the grace period except for the interest.
* Repayable through equal installment payments whose amounts are dependent on the projected cash flow of the agricultural activity.
* Interest charged on reducing balance.
* Minimum loan amount UShs. 100,000/=.
* Maximum loan amount is UShs. 15million.

Basic Requirements:

* Savings or Current account with the bank.
* Project undertaken must be an activity in the agricultural value chain.
* Business project must be profitable.
* Applicant must be resident within the branch designated area of operation.
* Applicant must be owner or tenant of the land on which he/she operates.
* Securities include land titles, unregistered land or moveable assets like cows, goats, sheep, household property or business equipment and tools.
* Application fee of UShs. 5,000/=.
* Commitment fee of 2%.
* Completed agricultural loan application form.

Benifits:

* Faster loan processing speed.
* Attractive interest rate.
* Repayment plans structured to accommodate the crop seasonality or animal production cycle.
* Grace periods are offered.
* Multiple disbursements offered to accommodate different stages of production cycle.


Please Note
This type of loan is offered by Centenary Bank. If you want to know more about the loan, please visit any centenary bank branch.