Sugar Loans

Sugar Loans 2020-02-02T15:59:26+00:00
TERM Type of Loan Purpose Duration Interest rate
Medium Term Cane Maintenance Loan For farmers and institutions in need of maintenance of their first (1) or second (2) ratoon
  • Purchase of fertilizers
  • Ploughing and weeding
  • Procurement of Agrochemicals
Up to 18 months 5%, reducing balance
Value addition Loan Agro–Processing Loan facility for borrowers who are engaged in processing or value addition to agricultural products through processing before selling Up to 24 Months 10%, reducing balance
Factory Rehabilitation Loan To facilitate Sugar factories to rehabilitate Factory Related Machinery leading to expansion and higher levels of efficiency;  Refurbish equipment and procure spare parts for factory Up to 24 months. 5% , reducing balance
Long term Cane Development Loan For farmers and institutions who would want to establish and maintain ratoons. A five (5) year loan disbursed as follows:
  • 40% for establishing plant crop (24 months),
  • 30% for maintaining first (1) ratoon (18 months);
  • 30% for maintaining second (2) ratoon (18 months).
  • 4% (if an institution is lending to a farmer),
  • 5% (If the institution is utilizing it for Cane Development Purposes)
Machinery and Equipment Loan To facilitate borrowers acquire machinery and equipment. Up to 60 months 5%, reducing balance
Infrastructure Loans This loan facility is meant to assist producers undertake critical construction works. Up to 60 months 10%, reducing balance
Water Development/Irrigation Loans This loan facility is aimed at assisting borrowers’ access water on the farm/premises and also installation of irrigation system. Up to 60 months 10% reducing balance