![explorer-white](/wp-content/uploads/2019/02/explorer-icon.png"){kind=icon}
Agro Progres Loan
2 loans dedicated to give you the opportunity to further develop your business activity.
1. Agro Mini, short-term loans for financing of agricultural activities; and
2. Agro Loans, long-term loans offered for financing the purchase of agricultural equipment and investment in greenhouses, stalls etc.
Benefits from Agro Progress Loan
-
Very good opportunity for you as a farmer or investor, in order to develop and expand your agricultural activity.
-
Opportunity to repay disbursement loans based on the production cycle.
-
No collateral required for Agro Mini loans; while offering agricultural land as a collateral, farmers can benefit a larger loan amount.
-
Facilitation in the documents requires: the submission of a farmer’s license is not mandatory.
More on the Agro Progress Loan
Agro Mini
-
Minimum amount: 50,000 ALL.
-
Maximum amount: 1,000,000 ALL.
-
Currency: LEK.
-
Deadline: maximum duration of 84 months.
-
Variable interest depending on loan duration:
0 to 1 years: Interest rate 5.5%
1 to 2 years: Interest rate 6.5%
2 to 3 years: Interest rate 7.5%
3 to 5 years: Interest rate 8.5%
5 to 7 years: Interest rate 9.0%
-
Repayment scheme: Based on the production cycle, this loan can be re-paid on an irregular installment scheme.
-
Early Payment: The bank accepts partial or full repayment of the loan before its maturity term based on the current Terms & Conditions.
-
Collateral: No collateral or life insurance is required.
Agro Loans
-
Minimum Amount: 1,000,000 ALL.
-
Maximum amount: 2,000,000 ALL. Funding up to 70% of the investment value.
-
Currency: This loan is offered in ALL and EUR currencies.
-
Deadline: The minimum repayment term is 6 to 84 months.
-
Interest rate: ALL: T.B. + 4.5% (min 8.5%); EUR: Lib. + 9%.
-
Repayment Mode: Based on the production cycle, this loan can be re-paid in irregular installments.
-
Early Payment: The bank accepts partial or full repayment of the loan before maturity term based on the applicable Labor Conditions.
-
Collateral: Agricultural land is required as collateral. Also, for amounts over 1,000,000 Lek, life insurance is required.
-
Insurance: Property insurance in the case of the Agro Loan is required at 110% for exposures above 1,000,000 ALL and life insurance up to 100% for exposures above 2,000,000 ALL.
How You Can Get Agro Progres Loan
To apply, you can apply to your Personal Banker with the following documents:
Agro Mini
-
Identification documents (passport, identity card).
Family certificate.
License (if any). -
Ownership certificate for land, farm or greenhouse.
-
Confirmation of the municipality for the number of the livestock owned and / or confirmation by the commune for the land sowed.
Agro Loans
In addition to the above documents, for the Agro loan, the following are required:
-
If the loan is to be used for investment, a simple Investment Plan is required.
-
Valid documents of the property to be used as a collateral (agricultural land, greenhouses or farms).