Kathmandu. Are you planning to expand your business related to agriculture? Are you thinking of starting a business related to agriculture?
If that’s the case, you don’t have to wander around to get a loan. Nabil Bank has been providing agricultural loan in a simple and easy way at easy interest rates. Agri Business Loan is an easy, fast and structured loan scheme for farmers and agri entrepreneurs.
Under this scheme, a loan of up to Rs 20 lakh can be availed to start or expand the business such as animal husbandry, dairy, poultry, vegetable and fruit farming, fish farming, agro-processing industry.
Individual farmers in the age group of 18 to 68 years, registered with the concerned body or agri-business operator are eligible for the scheme.
The credit limit is determined based on the performance of the business, credit requirements and the cash flow trends of the business. More collateral reduces risk and makes the loan stronger.
The loan tenure is for a maximum of 10 years and a moratorium facility is included if needed, which gives the farmers time and ease to set up their business.
The installment payment (EMI) will be on the system and the payment has to be made on the 20th of every month. The criteria of not getting more than 80 percent of the monthly independent income of the family has ensured that there is no unnecessary financial pressure on the borrower.
For the loan process, one has to submit citizenship, agricultural business registration certificate, land ownership certificate, PAN or VAT registration, income statement, bank statement and collateral documents. Personal security of the mortgagee or promoter is also required.
The administrative fee will be 0.75 percent of the total loan limit and the credit guarantee fee will be 0.20 percent (half-yearly).
If all the documents are complete, the loan will be provided within 8 days, 4 days until loan approval and additional 4 days until the approval of the loan.
Flexibility has also been provided according to the nature of the business as the amount can be withdrawn in a lump sum or installment. Overall, this scheme is an effective loan facility brought with the objective of increasing investment in the agriculture sector, expanding production and making farmers self-reliant entrepreneurs.
This loan, which can be availed in a simple and easy way, will make it easier to start or expand a business in agriculture.
