Lending Criteria

The availability of credit depends to a very large extent on the bank’s ability to recover funds lent out .To this extend the bank’s observance of specific credit policies and procedures become critical in order to ensure prudent lending.

To achieve this the bank:

• Uses a selection criteria for borrowers
• Charges interest to cover costs and make profit or at least break even. Interest is normally prescribed by government or RBZ
• Operates a debt recovery and farm rehabilitation system.

Some of the lending criteria pertaining to farming clients are:

• Ecological suitability and the feasibility of the project
• Project’s capacity to generate adequate cash flow to enable servicing of the loan
• Marketing or Supply contract with a recognized buyer ( an added advantage )

Depending on the funding involved, Agribank may require adequate and tangible security.

Who can borrow from AGRIBANK?

• Communal farmers
• Resettled farmers
• A1 , A2 and small scale commercial farmers

Eligibility for accessing AGRIBANK Loans

• Applicant should open and operate an Account with AGRIBANK
• Be a Zimbabwean citizen above 18 years of age.
• Provide proof of land ownership / allocation, lease or permit
• Documentation of any past sales, such as sales sheets
• Proof of previous good loan service record will be an added advantage
• Recommendation from AREX, VET or farming organization (s)
• Proforma invoice for equipment or live stock required
• For irrigation development, farmers should provide irrigation scheme design , water permit and geo physical report ( boreholes )

Priority will be given to beneficiaries and those who have not used up their sectorial limits.
 

Management Structure
AGRIBANK is represented at the various stakeholder levels by Executive Directors, Provincial Managers, Area Credit Managers and Loan Officers who are responsible for:

• Credit Advance to the farmers
• Monitoring of financed programs
• Implementation on the ground
• Debt recovery and farm rehabilitation
• Disseminating if relevant marketing information.

Please contact the Agribank branch nearest to you for any further information you may require.