Tractor Financing

 

CFAO Kenya Ltd has partnered with financial institutions to provide local farmers and other primary players in the agriculture sector with easy access to farm inputs and machinery in support of improving food security. CFAO Kenya Limited aims to assist farmers in increasing yields and transitioning from subsistence farming to commercial agriculture.

 

Farmers and individuals will benefit from up to 80% financing with flexible terms and attractive rates, as well as the option of adjusting their repayment terms based on the farming season, promoting the increased adoption of mechanization in agriculture.

Equity Bank View Details
Financing Access up to 80% financing
Interest rate Interest rate applicable; 13% pa. (Reducing balance) on each drawdown.
Payment period 48 Months
Special considerations i. Supports seasonal, unstructured and unequated payments.
ii. 60 Days repayment holiday /Moratorium (Principal & Interest) on request, for monthly repayments.
iii. Farm Implements – to be financed together with the tractor unless they constitute more than 20% of the cost of the tractor
Charges applicable i. 1.5% one off Bank Charges- For New to Bank customers.
ii. 1% one off Bank Charges – For repeat/existing customers.
iii. Excise duty on fees & commission at the prevailing rate at the time (currently at 20%)
Insurance Comprehensive Insurance over assets financed.

Interested
Rafiki Microfinance Bank View Details
Financing Access up to 70% financing
Interest rate The interest applicable to the facilities shall be 10% per annum on flat rate.
Payment period 48 Months
Special considerations Seasonal loan repayment subject to a review on borrowers cash flows and business case request.
Charges applicable Charges to facility shall be Credit Life Insurance of 0.6% of the facility amount, chattel mortgage fees of Kshs. 1,000 and a processing fee of 3% of the loan amount.
Insurance The facilities will be comprehensively insured and Rafiki MB’s interest noted through Rafiki Microfinance Insurance Agencies.

Interested
Unaitas View Details
Financing Up to 80% financing
Interest rate 18.5% interest rate P.A
1% processing fee
Payment period 48 months

Interested