Special Agricultural Loans
Special Agricultural Loans - Just for our farmers' needs!
Farmers come talk to us about the Special Agricultural Loans if you:
- Need to purchase inputs
- Defray labour expenses
- Need to purchase planting material for non-banana crops
- Fixed interest rate of 6.5% per annum on the reducing balance.
- FREE Loan Protection Coverage & Life Savings Insurance.
- No processing and commitment fees. No hidden charges.
- Up to 2 years to repay.
- Borrow funds to purchase inputs, defray labour expenses and purchase planting material for non-banana crops.
- 100% financing.
- There is No waiting period.
- Save & invest for the future with our compulsory savings plan.
- Qualify for FREE Loan Protection Coverage at no cost to you.
- All legal matters related to your Special Agricultural Loans are handled by our Legal Department.
Visit ANY NCCU Branch to apply for your Special Agricultural Loans.
- A minimum of 5% of the total amount of the loan requested. [No Character Loans]
- Member shares based on the amount of loan
- Details of security being offered
- Farm records
- Your NCCU passbook(s) and photo identification like Social Security card.
- Details of your liabilities and commitments.
- Member Shares/Loans click here!
- Farmer must be in possession of his or her rented/lease land suitable for agriculture.
- Farmer must be a member of a marketing company such as DAPEX or Fair Trade Association with a membership in a farmer's organisation in his community as an advantage.
- Maximum loan per farmer is $10,000.00.
- A recommendation from an Agricultural Extension Officer is mandatory.
- Letter from DAPEX, Fair Trade and other similar organisation to certify that they will purchase the produce and remit funds to NCCU. Or a confirmed market (in writing) for the produce.
- Farmers may qualify for a grace period.