FARM INPUTS LOAN
INDIVIDUAL LOAN
TARGET MARKET
- Individual involved in small holder farming aged 18-75 years and are looking for inputs like fertilizer, seeds and chemicals.
OBJECTIVES
- To create job opportunities.
- To achieve food security.
CUSTOMER BENEFITS
- Sustainability
- Food security
REQUIREMENTS
- National ID
- Letter from local leader
- Sketch a map of the place of residence and business.
- Bank Statements
- AEDO’s certification of the appropriateness of the inputs requested
- Proof of farmland acreage
- Business profile/records
- Business Registration
- Physical collateral
- Guarantors letter and his/her National ID
- Spouse consent letter, where applicable
- Memorandum and Articles of Association for private limited companies
- Passport-size photo (color)
THRESHOLD
- Mwk 5,000,000.00 to Mwk 30,000,000.00
TENURE
- Min – 3 months
- Max – 12 months
- Minimum grace period of 1 month may be granted. full grace period depends on crop being produced.
RATES/TARIFFS
- Interest – 4.8%
- Processing and Admin fee – 4.5%
COLLATERAL REQUIREMENTS
- Registered Land
- Vehicles
- Equipment
- Household chattels
GROUP LOAN
TARGET MARKET
- Individual involved in small holder farming aged 18-75 years and are looking for inputs like fertilizer, seeds and chemicals.
OBJECTIVES
- To give a push to stagnating micro-enterprises.
CUSTOMER BENEFITS
- Sustainability
- Food security
REQUIREMENTS
- National ID
- Group Constitution
- Leadership commitee
- Group guarantor-ship
- AEDO’s certification of appropriateness of the amount of the inputs requested
- Proof of farmland acreage
- Maximum radius of 5 km
- Group photo
- Letter from local leader
- Sketch map (To leaders residences, to meeting place-must be a home of one of leader
THRESHOLD
- First-time borrower: Mwk 2,500,000.00 to Mwk 10,000,000.00
- Second-time borrower: Mwk 10,000,001.00 to Mwk 20,000,000.00
- Third-time borrower: Mwk 20,000,001.00 to Mwk 30,000,000.00.
TENURE
- Min – 3 months
- Max – 12 months
- Minimum grace period of 1 month may be granted. full grace period depends on crop being produced.
RATES/TARIFFS
- Interest – 4.8%
- Processing and Admin fee – 4.5%
COLLATERAL REQUIREMENTS
- Group cohesion
- Individual members personal assets that are submited collateral to group.
OPENING HOURS
MONDAY – FRIDAY
7:30 AM – 4:30 PM
CONTACT US
NATIONAL ECONOMIC EMPOWERMENT FUND
P.O BOX 779, LILONGWE
PHONE # : +265 999 941 333 | +265 999 938 333
EMAIL: info@neef.mw