The Co-operative Bank of Kenya has two amazing products for tea and coffee farmers in Kenya. The two products are tailored towards giving farmers convenience and value for their hard labor as they strive to succeed on a daily basis.
Tegemeo Tea Loan
Co-op Bank offers financing small-scale farmers who own tea farms and supply their produce to various factories both KTDA and non-KTDA.
The product is designed to enable farmers to purchase farm inputs, tea picking, develop the farm, and finance household needs.
Requirements
- A dully completed application form
- Co-op Bank account (to receive and pay back the loan)
- Tea proceeds payments for one month received in the account
The minimum loan is 5000 shillings while the maximum is 2,000,000 shillings.
Read More:
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Coffee Loan
The Co-operative Bank of Kenya offers financing to both coffee farmers and coffee factories. There are various loan products offered under this program.
Loan products under Coffee Loan
Cherry Advance Payment (CAPs): This product facilitates the harvesting of the coffee.
Farm Input Loan (FILs): This product facilitates the purchase of farm inputs during the coffee farming cycle.
Factory Development: It supports the establishment of a factory or rehabilitation.
Working Capital: It helps to pay for operating expenses and digitization of coffee factories.
Requirements
- 3 years of production record
- Books of accounts for the last 3 years
- Borrowing powers
- 1-year yield projection
- Application letter
- Minutes or resolution to borrow
The minimum loan is 100,000 shillings while the maximum loan depends on the repayment ability.
Read More:
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- Eight Coffee Factories In Nyeri To Be Auctioned Over Unpaid Debts
If you are a coffee or tea farmer and in need of finances, walk into any branch of the Co-operative Bank of Kenya and let them serve you.