Loan for agricultural land
… The optimal solution for buying agriculture land..
- For whom? The farmers who fulfill the eligibility criteria to access a credit facility; criteria established by the bank.
- For what?Financing acquisition of agriculture plot(s) of land, including lands without “intabulare” documentation;
- Currency: LEI
- Maximum amount: 90%** from the plot(s) of land value, the minimum value between the acquisition value and market value
**but no more than 1.000.000 EUR equivalent
- Farmer contribution: 10% from the plot(s) of land value
- Credit period: maximum 120 months;
- Grace period: maximum 12 months for the capital;
- Reimbursement: monthly interest and capital – paid base on a loan schedule
- Support for agriculture land acquisitions which cannot be made from own sources;
- Long term tenor;
- Grace period for the capital component, in order to ease the impact of the cost with land registration;
- Reimbursements are made according to the farm’s activity;
- Consultancy offered by the Credit Agricole employees on the best solution to finance and guarantee for the company.
- Mix of flexible guarantees including the agriculture land – object of the loan, personal guarantees, pledges over the current account opened with Credit Agricole; in the case of non-registered land other strong collateral until the land registration
The necessary documents for accessing the Loan for Agriculture Land:
- Credit form request, signed by the persons authorized to legally represent the farm;
- Documents to certify the farm’s economic and financial situation for the last two years and the last financial situation, closed and handed in at the Financial Administration (balance sheet, profit and loss, trial balance);
- Farm’s business plan in which to underline the company’s short-term strategy, as well as monthly operational income and expenses;
- Property documents for the goods bought/proposed as guarantees;
- Consultation agreement for the Central Credit Register;
- Tax certificate;
- Decision of the competent authority on contracting and guaranteeing of the credit;
- Any other documents required by the bank.