1. Q: How can I apply for a loan?
Prepare your loan request proposal and visit the website to upload it, then proceed to apply online after an approval message from AFC or visit the Branch nearest your project site for advice and guidance.
2. Q: Can I obtain a loan from any AFC branch?
For purposes of order, efficiency and accountability all our branches have been given clearly defined areas of jurisdiction. The Manager in charge of that area is therefore
best placed to make appropriate decision on agricultural investments in the same area.
It is therefore prudent and advisable that loan applicants make their requests to the Branch Manager under whose jurisdiction the agricultural project will be implemented.
3. Q: What is the maximum loan offered?
A: There is no prescribed maximum loan for any project however the amount of the loan offered depends but not limited to the following -:
(a)The overall cost of the project for successful implementation
(b)The ability of the applicant to contribute towards the successful implementation of the project.
(c)The minimum acceptable commercially viable economic unit of operation for the specific enterprise. The Corporation's limitations for the implementation of specific programs,
as dictated by the overall corporate policy and the Government of Kenya agricultural development policy.
4.Q: Do you charge fees for processing loans and if you do, can the fees be part of the loan applied?
The Corporation charges modest fees for all loan applications and all the required fees are paid up front by the applicant and is therefore not part of the loan applied.
5.Q: Is there an age limit for loan applicants?
The Corporation only accepts loan applications from applicants above age 18 and in possession of Kenya National Identity cards. In case of legal entities,
they should be registered and recognized by the statute, under which they were established and must have been in operation preferably for 3 years from the date of registration.
The Corporation discourages first time applicants above age 70 years. However there is no age limit for applicants with previous loan accounts in the Corporation.
6. Q: Do you require security for all loans?
7. Q: Do you accept for security a land title deed different from the land on which the project will be implemented?
YES. However, such title must be acceptable to the Corporation as security.
8. Q: Do you give a grace period before loan repayment starts?
Loans are repaid at specific installments dependent on the specific enterprise and overall cash flow of the borrower.
The period allowed between loan disbursement and first instalment ranges from one month to twelve months.
However in all cases loan interest accrual starts immediately on disbursement of the loan.
9. Q: What is your interest rate?
Our current interest rate is competitive.
10. Q: Do you disburse your loan funds directly to the borrower?
Currently all disbursements are done by issuance of a cheque payable directly to the borrower on a properly documented request.
However disbursement in kind by paying directly to suppliers may be done on specific capital items such as machinery and farm equipment on authorization by the borrower.
11. Q: Can I pay my loan at any of your nearest offices?
YES. You however need to provide your loan account number.