Ufugaji Loan

• For farmers who invest in Livestock: beef cows, goats, sheep, poultry, bee keeping including production management, feeds and structures.
• For existing or potential livestock and commercial farmers selling to buying agency and paid through IMARIKA ordinary savings account.
• Proof residency or project location.
• Business Plan-where necessary with help of professional.
• New Farmer-proof of facility where to rear the livestock breed.
• Maximum repayment period is 24 months
• Repayment Recovery: Monthly STos and bullet payment upon receipt of annual bonuses.
• Loan size: Unsecured Kshs. 5,000 – Kshs. 100,000.
• Interest rate is 18% p.a flat rate.
• Processing fee 0.8% of loan applied for
• Grace period; Max. 3 months
• Minimum SAcco shares contribution shall apply.
• credit life insurance of 0.6% p.a
• Livestock insurance for the cows 4.5%
• Security/collateral: Proof of irrevocable instruction to buying agency not to change pay point from IMARIKA, Annual Insurance on livestock, Group guarantee, An acceptable conventional collateral.