AMFIU | View Institution Details
Institution Name:
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Agric Loan Product Name:
General Product Description:
Agriculture loan Targets financing a broad spectrum of Agriculture & livestock activities products produced at a commercial scale include: Crop production, Agriculture Processing & Marketing, Agriculture supporting activities like agriculture machinery such as trucks, tractors and arm tools agricultural equipment and accessories. Others may include Agric real estate (land purchase & hire, farm house construction & hire), fertilizers, pesticides, transportation and storage etc.
Target Market:
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Eligibility Criteria:
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Collateral Requirements:
Land sale agreement certified by LC1 Chairperson; Chattels for Small loan borrowers ( Max 1M); Compulsory savings of 20%
Insurance:
1% of the loan for a period up to 1 year ( we use both Self Insurance and external for Loans above 10,000,000)
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Loan Process:
A member goes through the following process to access a Loan at Kijura Sacco Ltd: Expression of interest by filling the application form.; Gets recommendation from the LC1 Chairperson where his collateral is located; Should have two guarantors who are active members of the Sacco; Appraisal is then done ( both Desk and Field appraisal) by Loan officer; Approval by Management or Loans Committee depending on the Loan amount; Pre-disbursement training and signing of the agreement; Lastly, disbursement through the Customer’s savings Account.