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October 18, 2019

AGRICULTURAL FINANCE CORPORATION LOANS

HORTICULTURE & FLORICULTURE DEVELOPMENT LOAN

Product description

These are loans to finance horticultural and Floricultural projects

Features

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

Items Financed

  1. Fruits, vegetables and flowers
  2. Green houses and related equipment
  3. Water and electricity supply systems
  4. Harvesting and packaging equipment
  5. Labor and other operational costs
  6. Working capital

Requirements/Eligibility

  1. Relevant experience in floriculture & horticulture
  2. Compliance with regulatory requirements
  3. Adequate water supply

WATER DEVELOPMENT LOAN

Product description

These are loans intended for water infrastructure for irrigation and livestock use. This product is borne out of the realization that irrigated-based farming is still very limited in the country, yet this is the surest way to militate against the vagaries of weather such as the frequent droughts that leads to crop and animal loss. A farmer who ventures into horticulture, for instance, would need a permanent water supply to assure of sustained production. The arable land that is currently underutilized can be put to agricultural use through availing water and associated irrigation facilities.

Features

  • Availability of suitable and adequate water catchment
  • Provision of water permits by the necessary water authorities
  • Water test certificate for quality and quantity in case of bore hole

Items Financed

  1. Water tanks and troughs, shallow wells, boreholes.
  2. Pumps, pipes and connections
  3. Irrigation equipment, farm dams
  4. Labor, transportation related to installations

Requirements/Eligibility

  • Suitability of the of the crop
  • Tangible security for the loan
  • Minimum acreage financed is 5 acres for maize and wheat only

SEASONAL CROP CREDIT

Product description

These are loans that are provided for the production of maize, wheat, potatoes, rice and other foods crops that have maturity of not more than 12 months. Production costs for these food crops is high because of ever rising cost of inputs such as seeds, fertilizer, chemicals and land preparation. This credit facility is aimed at assisting farmers acquire the inputs and ultimately boost productivity. Yet, there is always a ready market for cereals, being a staple national food.

Features

  • Repayment period of up to 12 months
  • Designed for individuals and groups

Items Financed

  1. Production cost
  2. Harvest cost

Requirements/Eligibility

  1. Suitability of the crop
  2. Tangible security to the loan
  3. Minimum acreage is 5 acres for maize and wheat only

SCHOOL BASED LOAN

Product description

Loans to Primary, Secondary & Tertiary intuitions to undertake school farming. Aim is to subsidize the cost of school feeding. Supporting Self- Sufficiency in Schools

Features

  • Payment period between 1-5 years
  • Affordable interest rates
  • Flexible security

Items Financed

  1. Crop & livestock production
  2. Farm machinery & infrastructure
  3. Agribusiness
  4. Horticulture
  5. Value addition amongst others

Requirements/Eligibility

  1. Proposal for intended project
  2. Open a Vuna relationship account with afc
  3. Adequate land size for the intended project

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