Agriculture Loans

Recognizing that agriculture is the backbone of the economy, DFC provides credit facilities for the  establishment, improvement, and expansion of agricultural enterprises. Short term working capital loans are also available for the purchase of inputs and other agronomic/husbandry practices.

Which projects can be financed?

Crop Production

Traditional Crops: CITRUS, BANANAS, SUGARCANE
For the establishment and expansion of fields including all relevant infrastructure such as roads, irrigation and drainage.
Replanting and rehabilitation of fields, farm machinery and equipment and crop loans for working capital (land preparation, fertilizers, agro-chemicals, weeding and harvesting)

Non-traditional Crops: PAPAYAS, HOT PEPPERS, VEGETABLES AND MIXED CROPPING
Establishment and expansion of fields and all relevant infrastructure such as irrigation and drainage .
Working Capital

Grains and Pulses: CORN, RICE, BEANS, PEANUTS, SORGHUM, SOY BEANS
Short to medium terms loans are available for the production of these commodities.  Long term credit is also provided for activities such as  drying, storage and distribution.  

Livestock Production

Beef, Dairy, Pigs, Poultry and small ruminants
For pasture establishment, and improvement, fencing, water systems working corrals, milking equipment, buildings and purchase of breeding and feeder stock, feed and medication

Honey Production

For the establishment of apiaries including the purchase of boxes, supers, protective gear and harvesting equipment

Commercial Fishing 

Purchase of boats, motors, fishing gear and equipment, cold storage and processing facilities. Crop loans are also available to eligible fishermen.

Aquaculture

For the establishment of ponds, purchase of feed, equipment and stock, hatcheries and processing and storage facilities.

Forestry

Establishment of nurseries, reforestation, logging and sawmilling and agro- forestry activities

Loan Terms

Variable interest rate of 10.75% per annum
Loan terms depend on the nature of the project but cannot exceed 15 years
Grace period depends on the type of project and implementation period and applies to principal repayment only and will not exceed five years.  The borrower is required to pay the interest and insurance (where applicable) during grace period

Loan Policies

Loans are available to Belizeans, Belizean Residents, Co-operatives, Partnerships and Associations, and locally registered Companies with at least 65% Belizean ownership. Individuals should be between eighteen and sixty-five years of age
The project must be financially viable, technically feasible, and environmentally sustainable.
Client’s contribution should not be less than 10% of the total project cost.
Sound management verified by experience and records of past performance in similar operations
Clients must be of sound character and proven creditworthiness.
Where applicable, all insurable assets must be insured with DFC’s interest noted therein.

Collateral Requirements

Collateral requirement vary with the size of the loan

• For loans up to $15,000, collateral can be in the form of a Third party Guarantee or a Bill of Sale on machinery and chattels, or other instruments acceptable to DFC.
• Real estate collateral is required for loans above $15,000, and should value at least 133% of the aggregate value of the loan.
• Where the collateral is a leasehold interest, permission to mortgage must be obtained from the Ministry of Natural Resources and the term of the Lease must exceed the term of the loan by at least 5 years.
• All loans must be secured by a Promissory Notes to be executed by the client in favor of the DFC

Other

DFC provides/facilitates technical assistance during project planning, implementation and operation.
DFC supervises your project periodically to ensure proper implementation, and management of the enterprise.

Submissions

The following submissions must be made before an application can be processed.

• Copy of a valid photo Identification (Passport, Voter’s Identification and Social Security Card)
• Business Plan and financial records where applicable.
• Original land documents for the project site or other acceptable collateral
• Evidence of having paid land/property taxes due.
• Relevant permits, contracts, and licenses( where applicable)

For Companies and Legal Entities

• Certificate of Incorporation
• Memorandum & Articles of Association
• Annual Returns and Certificate of the Good Standing
• Resolution authorizing the company to borrow
• List of persons empowered to act on behalf of the Company and to execute legal documents in connection with the transaction.