How to get union bank agro loan
Union Bank Loan
This Bank offers Agricultural financing to Agro-businesses, from small to big. But the starting point is: Evidence of ownership or right to use whatever portion of land you plan to use. Then you can choose from their Loan facilities what you really want-
Short Term Loan: Which covers a short period of time, say- 1 or 2 years.
Medium Term Loan: This type of Loan exceeds the period of 1 to 2 years. Sometimes, it lasts up to 4 years due to the technicalities involved in the business it is being funded with.
Long Term Loan: This type of loan is for Agric products that take longer time to mature.
Fixed Capital: Farmers get this type of Loan to enable them establish fixed assets on their farms.
Working capital Facility: This Loan is given to enable Farmers shoulder their day to responsibility in the farm.
Whatever your objective is, these facilities will enable you to achieve it, so far you meet up with these requirements-
- Open an account with Union Bank
- Submit a Loan application to the branch’s Business Development Manager
- Pay 10% of the total fund you applied for
- State the purpose of the Loan
- Method of your farm production
Yields as expected
Your repayment plan
This setting is exclusive to individuals only. For Limited Liability companies and corporate organizations, there are only 2 steps-
Submit a loan application written with the company’s letter head to the Branch. It must be duly signed by the company’s representatives.
Submit detailed report on feasibility studies