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Livestocks Development

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Purchase some livestock so that they can work for you

What is a Livestock Development loan?

Finance is made available so that suitable farmers can purchase livestock. However finance can only be made available for an income-generating project. In each case it must be established what the plan is for the livestock to be purchased and that sufficient funds and/or already existing facilities are available to control the animals.

Why go with us?

Tonga Development Bank's Livestock Development loan has:

  • A highly competitive interest rate
  • Minimum age of any applicant is 18 years
From
8.50% pa
interest rate

Livestock development
Features
SecurityAll items livestock purchased by loan funds plus others. Mortgage to be taken whenever possible.
Term$5,000 36 months
Repayment Percentage Salary DeductionSalary deduction preferred. Normally up to 50% of income.
FeesCan be charged to account.
DisbursementDirect to supplier where necessary or according to agreed draw down schedule.
Borrowers ContributionAdequate, either cash deposit or sweat equity towards total project cost.
Rates
CRR A8.50% pa
CRR B9.00% pa
CRR C10.00% pa

 

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  Eligibility Guideline – Applicants

Applicants considered under this Sector should:

  1. Must have already established some contribution towards the project i.e. fencing, stock etc.
  2. Must be able to show that they have some existing experience in livestock management.
  3. Be sound creditworthy individuals, who have a good credit history in the Bank. These include clients with CRR of A, B, and C1.
  4. The loan application may be supported by another person, preferably salaried, and known to the Bank, who can act as co-borrower or guarantor for the loan.
  5. Minimum age of any applicant is 18 years
  Eligibility Guidelines – Purpose
  1. All types of livestock development, including purchase of livestock can be considered.
  2. In all cases it must be clearly shown that there are sufficient funds available to complete the production cycle. This includes fencing or other means of stock control, feed, housing etc.