Without security assets, farmers still get loans?

Mon, 20 May 2019 10:18:00  |  Print  |  Email   Share:

(Chinhphu.vn) - Mr. Luu Cong Truong's family (in Lao Cai Province) is building and developing cow and orange farming models. Due to his limited family capital conditions, the implementation of the model is still difficult. Mr. Truong would like to ask, what loan is available to farmers without any collateral and how much is the loan?

Lao Cai Department of Agriculture and Rural Development responds to this issue as follows:

Households raising cows and oranges are those who are prioritized for lending investment by the Bank for Agriculture and Rural Development.

According to Point b, c, e Clause 2, Article 9 of the Decree 55/2015 / ND-CP dated June 9, 2015 of the Government on credit policy for agricultural and rural development, customers are individuals, households, cooperatives, farm owners borrowing capital for agricultural and forestry development shall be entitled to borrow without security assets of up to VND 1 billion, specifically:

- Maximum VND 100 million for individuals and households residing in rural areas; individuals and households residing outside rural areas who are involved in agricultural production with cooperatives or enterprises.

- Maximum VND 200 million for individuals and households investing in industrial plants and perennial fruit trees.

- Up to 1 billion VND for cooperatives and farm owners operating in rural areas or production and business activities in the agricultural sector (depending on the size of each farm, customers' ability to repay debts ).

According to Item 3, Article 9 of the Decree 55/2015 / ND-CP, borrowers who do not have security assets must submit to the lending credit institution the land use right certificate (for the entities granted certificate of land use right or certificate of land use right certificate without dispute is certified by Commune People's Committee.

The process of borrowing procedures, he suggested contacting Credit Department - Agricultural and Rural Development Bank of the district.

By: Online Newspaper of the Government / Translator: HaiYen-Bizic


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