Agriculture remains a key pillar of the economy, supporting livelihoods, creating employment and contributing to food security and economic growth.
However, access to affordable and timely financing continues to be a major challenge for many farmers, limiting their ability to purchase essential farm inputs and maximise production.
Recognising the need for financing solutions tailored to agricultural activities, Equity Bank offers the Farm Inputs Loan, a facility designed to help eligible farmers meet the cost of essential inputs required for their farming operations.
The loan targets farmers who operate monthly remittance accounts with Equity Bank, providing financing to support the purchase of farm inputs.
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Flexible security and repayment period
The Farm Inputs Loan has several requirements and provisions intended to guide access to financing.
Eligible forms of security include proceeds from farm produce that has already been sold. In such cases, borrowers are required to provide a signed commitment and an irrevocable change-of-pay-point particulars form.
Farmers can also provide chattels mortgage over livestock, farm assets and household assets as security for the facility.
Moreover, applicants must provide at least two guarantors who are active account holders with Equity Bank. The loan has a maximum repayment period of two years.
Who qualifies for the loan?
To qualify, applicants must be active Equity Bank account holders or be willing to open and operate an account with the bank.
The facility targets farmers engaged in commercial farming who have completed at least two successful farming seasons or production cycles and demonstrate a sound understanding of their target markets.
Applicants must also have relevant experience in agriculture or agribusiness, with established access to production land, whether owned, leased or provided by family members.
For business enterprises, applicants must possess the applicable business and regulatory licences required for their operations.
How to apply
Farmers interested in the Farm Inputs Loan can begin the application process by visiting their nearest Equity Bank branch and completing the loan application form.
Once the application has been submitted, the bank will assess it to determine whether the applicant meets the facility’s requirements. If the application is approved, the bank will issue an offer letter outlining the terms of the loan.
The applicant must then accept the offer, return the signed offer letter and fulfil the applicable loan sanction conditions before the funds are disbursed.
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