Types of Agricultural Loans
(કૃષિ લોનના પ્રકારો)
Agricultural loans are available for farming purposes. Farmers can apply for loans for cultivation of cereals as well as purchase of equipment for occupations like horticulture, aquaculture, animal husbandry, floriculture. There are also special loans for purchasing agricultural machinery such as tractors, harvesters and trucks. Loans can also be taken for construction of biogas plants and irrigation systems as well as purchase of agricultural land. Here is some information about agricultural credit and loans provided by us.
Farm storage facility loan
Farm Storage Facility Loans (FSFL) provide you with farm-storage facilities for your crops and products. Storage of wheat, barley, rice, soybean, groundnut, oilseeds, lentils, peas, hay, biomass, fruits and vegetables.
Read in Gujarati(ગુજરાતીમાં વાંચો)
Farm operating loans
Operating loans help farmers with day-to-day needs or expansion needs. They come in direct and indirect options. Indirect loans are provided by a private lender but can be guaranteed by the FSA. This loan is more guaranteed, with up to 95% guarantee in the amount of indirect loan. Private loans can be taken due to other circumstances.
Farm ownership loans
Like operational loans, proprietary loans offered by FSA come in the form of guaranteed and direct loans. It has the same interest rate as an operating loan. This money is needed directly to buy land, livestock, crops or machinery, which is needed to acquire ownership of a farm for commercial production. In addition to the credit requirement the farm owner must have experience in the farming industry to promise the successful operation of a new business.
Fisheries Finance Program
Designed for specific fishing projects suitable under this program. 80% of which are eligible for credit. This loan program is designed to refinance private debt on a fishing vessel or to provide maintenance and repairs on an existing vessel.
Read in Gujarati(ગુજરાતીમાં વાંચો)
Farm labor housing
In which U.S. Provides loans and grants through the Rural Housing Initiative of the Department of Housing and Rural Development. The program provides capital for housing construction or relocation for rural agricultural workers. The program aims to simplify housing facilities, and may include the replacement or repair of furniture in housing structures. In addition, these loans or grants can be extended to large farming projects.