- Loan Purpose

To on lend to farmers in dairy and horticulture sectors and support towards adoption of climate smart and adaptive practices

- Eligibility Criteria

  • Proof of residency or project location
  • A member of Tower Sacco for at least 6 weeks
  • Demonstrate ability to repay - Total net income should be positive i.e. Net Farm Income (Farm Income - Expenses)
  • + Net Household Income (HH Income - Expenses)
  • Loan deduction must be not be more than 50% of net cash flows
  • Clean credit history evidenced by a credit reference bureau report

- Loan Features

  • A minimum of 3 months and a maximum of 36 months depending on the loan amount.
  • 4 times member deposits for individual members
  • Loan amount to be guided by the member ability to pay.
  • 25% Non-Withdrawable deposited in a member’s Non Withdrawable deposit account.
  • Guarantors who sign a chattel mortgage and open an account with Tower Sacco or have an existing account.
  • Irrevocable letter of undertaking from processors/Aggregators/Buyers where applicable
  • Chattels mortgage
  • Other collaterals like logbooks, title deeds.
  • Approval within 48 Hours from receipt of completed loan application form

Do you want a Loan?