Name of Loan

Description

Features

Gro Safe

Developed In collaboration with NAMDEVCO and BDC, Gro Safe is a short term loan up to $250,000 that provides funding of up to 80% of the farmer's selected activity.

• Effective Interest rate 4.5%
• Short term loan (18 mths) to a max. of $250k
• Collateral support of 25% from ADB Certificate of Security
• Client only needs to offer 10% cash security, 20% collateral support from ADB and 60% from BDC.
• Funding for life insurance and loan fees
• A payback period of 18 months / monthly installments (inclusive of a moratorium of up to 6 months if necessary)
• Pre requirement Farm Certification via NAMDEVCO

Sou Sou First Han'

(formerly known as Agri – Development Portal Loan - ADP):

New short term micro-enterprise loan up to $50,000 for existing farmers, marketers and agri-entrepreneurs needing working capital funds.

• Short term loan up to 24 months to a max of $50k
• Effective Interest rate is between 4.5% to 5%
• Funding for fees

Loan secured by:

• 25 % in liquid security
• Collateral support available if needed via ADB Certificate of Security
• Promissory note
• Other items of security(negotiabl

• Encouragement to access free FTC agri training courses

Get Growing

(formerly known as our regular loan):

Our most requested loan facility; Get Growing flexes to meet the needs of any type and size of activity or agri-entrepreneur. We tailor loan amounts and repayment to suit our client's specific needs.

• Flexible payments structured to your project's cycle (monthly, quarterly or semi-annual repayments)
• Repayment over 1 to 7 years (longer terms negotiable as needed)
• Moratorium
• Collateral options

• Certificate of Security (collateral support)
• Guarantees ( Personal , BDC, Corporate)
• Mortgage( land, vehicles and equipment)
• Cash Collaterals (Fixed Deposits, Shares, CSV)
• Debentures on fixed and floating assets to companies

• Group insurance
• No lending limit (lending subject to credit criteria and project appraisal)

Youth Window

A short term loan that provides funding of up to 80% of the selected activity (max loan value of $25K) for young farmers between the ages of 18 to 35.

• Funding of up to 80% of their selected activity (20% from ADB and 60% from BDC as applicable)

• Collateral support of 20% from ADB Certificate of Security. Other security to be negotiated. Personal Guarantor of reasonable asset base

• Funding for life insurance and loan fees
• Up to 6 months moratorium and 3 years to repay
• ADB support to enhance project success from:
  • Technical advisor/ experienced mentor
  • Free Enterprise Management Handbooks and production models

SeeD Money

A new loan up to $250,000 especially for new farmers, marketers and agri-entrepreneurs making that first step as well as other farmers and recipients of Caroni 2 acre plots.

• Effective Interest rate 4.5 to 5%
• Softer lending terms (contribution & collateral-)
• Percentage financing dependent on size and capacity of the project/borrower.

• Generally Up to 80 % of project cost
• Prevailing Low Interest rates as per ADB Credit Policy (max of 5%( effective rate)

• Minimum Loan security requirement of 50% cash collateral
• Other items of security

• Mortgages on equipment and private or state leased land
• Bill of sale on chattel items
• Personal Guarantor of reasonable asset base

• Repayment terms as per ADB Credit Policy inclusive of moratorium
• Repayment (Monthly ,Quarterly or Half Yearly installments)

Vehicle Package

A regular loan specifically to purchase a new or used vehicle or tractor, which is held as the sole security item.

• Available to new and or existing clients
• Medium term loan - 5 yrs for new vehicles and 3yrs for used
• Monthly installments
• Effective Interest rate is between 3% to 5%
• Funding of up to 80%
• Full Comprehensive Insurance (vehicles) or Third Party All Risk (tractors) applies
• Loan (new vehicle) secured by :

• Vehicle
• Promissory note
• or for used vehicles :
• Vehicle
• 30% cash collateral
• Promissory note

 

Dairy Gro' Loan

Same Day Loan Developed In collaboration with Nestle' Trinidad and Tobago to provide speedy and relevant funding to the dairy sector towards the growth and development of dairy producers, the adoption of new technology and improvement of farming systems

• Applicants must be supplier of fresh milk to Nestle' (min. 6 mths)
• Purpose - dairy inventory, infrastructure, equipment
• Max. loan size $ 100k (inclusive of refinancing and all fees)
• Loan period 18-36 mths
• Loan secured by:

• Assignment of proceeds of milk sales from Nestle'
• Promissory note

 

Revolving Loan Account

(RLA)

A loan product similar to an overdraft facility available to individuals and companies that requires specific access to working capital for their operations or everyday running of their project

• Available to existing clients with good credit ratings
• Loan period 18-24 mths
• Repayment can be structured to the operating cycle of the business – generally every 90 days
• Lending limit ($10K min.)
• Effective Interest rate is between 4% and 5%. For all RLA loans the effective rate is equal to the Amortized rate

New Pilot

Unsecured Loan of $50,000

A loan product up to a maximum of $50,000 that seeks to assist fledging agri-entrepreneurs in food production by offering unsecured, low cost financing to facilitate farmers engaged primarily in primary production (value added project scan also be funded). Concessions for both formal and informal land tenure arrangements.

Opportunity for farming community to support each other and build relationships.

• A budget of $10M was allocated by Government to this pilot project which is extended to 20 farming districts, with an estimated 10 farmers per district via recommendations by farmers' associations and MFPLMA.
• Short term loan up to 36 months to a max of $50k
• Equity offer of 20% that may include labour and other project inputs
• Interest rate at 5% (Tobago rate 1% lower)
• Moratorium of up to three (3) months
• Security: Promissory Note (Certificate of Security not compulsory)
• Minimum Credit Score 520
• Project Sites may be:

• Private lands (rented, 'family-owned', 'minus property' with tenure evidenced by an acceptable affidavit attesting to ownership or allocation)

• State Lands (exclusive of wet lands, forest or water reserves) that are properly identified and substantiated by THA and MFPLMA.

• Refinancing may be considered
• Loan may be renewed as needed up to a further two (2) years