Livestocks Development
Purchase some livestock so that they can work for you
What is a Livestock Development loan?
Finance is made available so that suitable farmers can purchase livestock. However finance can only be made available for an income-generating project. In each case it must be established what the plan is for the livestock to be purchased and that sufficient funds and/or already existing facilities are available to control the animals.
Why go with us?
Tonga Development Bank’s Livestock Development loan has:
- A highly competitive interest rate
- Minimum age of any applicant is 18 years
From
8.50% pa
interest rate
| Livestock development | |
|---|---|
| Features | |
| Security | All items livestock purchased by loan funds plus others. Mortgage to be taken whenever possible. |
| Term | $5,000 36 months |
| Repayment Percentage Salary Deduction | Salary deduction preferred. Normally up to 50% of income. |
| Fees | Can be charged to account. |
| Disbursement | Direct to supplier where necessary or according to agreed draw down schedule. |
| Borrowers Contribution | Adequate, either cash deposit or sweat equity towards total project cost. |
| Rates | |
| CRR A | 8.50% pa |
| CRR B | 9.00% pa |
| CRR C | 10.00% pa |
Eligibility Guideline – Applicants
Applicants considered under this Sector should:
- 1. Must have already established some contribution towards the project i.e. fencing, stock etc.
- 2. Must be able to show that they have some existing experience in livestock management.
- 3. Be sound creditworthy individuals, who have a good credit history in the Bank. These include clients with CRR of A, B, and C1.
- 4. The loan application may be supported by another person, preferably salaried, and known to the Bank, who can act as co-borrower or guarantor for the loan.
- 5. Minimum age of any applicant is 18 years
Eligibility Guidelines – Purpose
- 1. All types of livestock development, including purchase of livestock can be considered.
- 2. In all cases it must be clearly shown that there are sufficient funds available to complete the production cycle. This includes fencing or other means of stock control, feed, housing etc.
