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Financing Product for Potato Grader

INTRODUCTION

  • Potato is major crop of district Okara and exported from Pakistan on large scale. Small units for Potato Packaging will increase the export as it will add value to the product of small farmers.
  • Packaging Machines are easily available and accessible.
  • Financing for installation of these small units will improve the profitability, sustainability and income of farmers as Pakistan earned over Rs. 300 M last year on potato export.

 OBJECTIVE:

The scheme would help the farmers to have easy access towards credit and to facilitate the farmers for enhancement of their agricultural productivity by adopting mechanization practices.

1) Operational Jurisdiction The scheme will be applicable throughout the country.
2) Eligibility Criteria i).       The creditworthy and reputable rural farmer with having a good repayment behavior & familiar with the product’s usage & activities.

ii).     Farmer having appropriate self-owned & self-possessed agri. land to cover the feasibility of Potato Grader loan are entitled to avail the facility of loan for purchase of said item through approved dealership.

iii).    Valid copy of CNIC.

iv).    Clear e-CIB report from SBP.

v).    Obligors Risk Rating (ORR) to 4.
3) Maximum Loan Limit The maximum loan limit under the scheme would be up to Rs. 2.500 million per borrower/party.
4) Borrower’s Contribution 10% of the loan amount will be deposited by the borrower as self-contribution or invested towards the project.
5) Collateral The loan would be secured against all types of tangible securities acceptable to the Bank. In case of its non-availability, parent’s/family member’s security can be accepted as a co-applicant.
6) Cost of Credit As per Bank’s Rules.
7) Rate of Mark up The prevailing rate of mark up on development loans would be applicable. However, 3% rebate would be allowed on timely repayment.
8) Sanction of Loan Loan under the scheme would be sanctioned by Central Loans Sanctioning Department (CLSD) up to Rs. 2.500 million per borrower/party.
9) Disbursement of Loan After execution of legal documents loan would be disbursed through Supply Order in the name of the manufacturing Company.
10) Repayment

Schedule

 Loan would be recovered within 5 years in half yearly installments with grace period of six (06) months.
11) Monitoring Close monitoring would be carried out by the respective MCO & Branch Manager.

 

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