Land Bank Short Term Loans
The Land Bank is a specialist agricultural bank guided by a government mandate to provide financial services to the commercial farming sector. It strives to make available new, appropriately designed financial products that would facilitate access to finance by new entrants to agriculture from historically disadvantaged background.
The Land Bank has a mission to contribute to rural development by linking up with government structures and activities.
More about Land Bank Short Term Loans:
Land Bank Short Term Loans are tailored to meet important financing needs in the agricultural cycle. Advances are provided against crop intakes and production requirements.
In most cases Land Bank Short Term loan terms are for 18 months and most likely to be linked to the season. Interest rates are not fixed over the term of the loan, so there are no fixed terms of repayment.
If all documents are received, it takes 4 to 6 weeks to process the loan.
Farmers who are blacklisted may be assisted if they have proof that the debt was settled.
Land Bank Short Term Loans are available over a term of 1 to 3 years.
Medium Term Loans are available over a term of 3 to 12 years.
Long Term Loans are available over a term of 12 to 25 years.
What are the qualifying criteria?
- Be a South African
- Have a clear credit record
- Have enough security equivalent to the amount borrowed
- Affordability
- You need to be a full-time farmer and you need to be involved in primary agriculture. During the application process you will need to show that you’ve been unable to secure funding anywhere else.
The loans offered by the Land Bank are designed to assist emerging farmers and the key strategic intent of the Land Bank is to achieve financial sustainability focused on social and development impact.
