Purpose

Sundry Requests & Financial Hardship (Medical, Family Needs, store accounts, funeral etc)

Limit: Maximum $20,000.

Eligibility

Commitment Ratio of Loan Repayment to Net Farm Income to be below 60 percent, based on an average of past 3 years’ production and/or the forecast of the current year cane production.

Equity

Nil if backed by Mortgage over Farmland.

Interest Rate

6 percent per annum and is subject to change from time to time with advance advices.

Term

Maximum Repayment Term of 7 years.

Repayment

Annualised Repayment deducted from the cane payments received from FSC. This ranges from 50 to 100% and once annual repayment is met, rest of the proceeds for the season are refunded.

Security

Mortgage over Farm Lands, Security Agreement over farm crops, Security Agreement over Farm Chattels (tractors, trucks, implements) where needed with Insurance and Personal Guarantees and Irrevocable Authorities

Requirements: [Refer to Specialized Loan Checklist ]