National Development Fund for Agribusiness (NOFA)

NOFA FINANCING

What is NOFA?

The National Development Fund for Agribusiness (NOFA) is intended to make agricultural production and export more sustainable, increase and strengthen it. The NOFA offers entrepreneurs in the agricultural sector the opportunity to increase its production and increase capacity in order to improve its earning capacity and financing.

Goals

Enlarging, increasing, sustaining and increasing the quality of agricultural production and export, employment and improving the operational efficiency of agricultural companies . It strengthens the competitive position and earning capacity of agricultural companies by improving access to financing. Providing financing to entrepreneurs in the agricultural sector in a responsible manner.

• Currency Type - SRD
• Financing sum - Maximum SRD 1,000,000
• Term - Up to 120 months or 10 years
• Return - 5 ½ % per annum
• Type of financing - Investment financing
• Grace period - Maximum 12 months

NOFA funding is intended for:

• Agricultural companies and individuals for the benefit of the primary production and/or processing industry.
• The financing is exclusively for commercially productive and innovative investments and seasonal loans.

NOFA funding is not intended for:

• Purchase of land, housing and other consumption expenditures.
• Rescheduling of existing debts.

WHAT DO YOU NEED TO APPLY FOR A NOFA FINANCE?

1. CBS extract
2. Nationality declaration
3. Copy E-ID
4. Employer's statement and salary slip (if any)
5. 3 latest bank statements
6. Mortgage extract (not older than 1 month)
7. Copy of land order/title 
8. Valuation report (not older than 1 year)
9. Business plan
10. Declaration LVV number of sown areas (farmers)
11. Income and expense statement
12. Quotation goods/fertilizers

If legal entity:

• KKF extract (not older than 3 months)
• Articles of association
• Business license (if applicable)
• Financial figures of the past 3 years and the forecasts for the next 3 years

Certainties

The financing is granted against the provision of securities.

• 1st mortgage on real estate;
• Transfer all other collateral assets of the entrepreneur/grower/applicant into fiduciary ownership or a possible real estate agent;
• Submit and determine the guarantor's assets. The guarantor must sign the surety agreement for confirmation and thereby transfer the asset block for NOFA.
• Cash coverage

For more information or requests, please contact the Agribusiness Unit:

Email: agribusiness@trustbankamanah.com

Phone : 452800 | 476111 ext. 4110 / ext. 4111 / ext. 4118| Nickerie 211050 or 211051