Machinery Loan

Home Machinery Loan

Loan Purpose

This loan is for the purchase of farm machinery to facilitate production and transportation of farm produce. This is a direct response to the low uptake of technology and mechanized agriculture that continues to negatively impact on productivity levels. Apart from the convenience, increased mechanization and yields, an individual who comes for this loan product is assured of getting extra revenues from their farm machinery through hiring out to those who don’t have it.

Loan Specification

  • Items Financed

    Farm machinery and implements
    Pick-up and truck for transport of farm produce

  • Requirements/Eligibility

    Machinery/vehicle to be registered jointly with AFC
    Applicant to sign a blank transfer form to be deposited with the Corporation together with log book
    Machinery to be insured with comprehensive insurance cover
    Minimum deposit of 30% of net purchase price for new machinery and 50% deposit for reconditioned machinery
    Provide a written quotation from reputable suppliers
    Machinery/ vehicle brands with high resale value are encouraged