Victoria, PASS partner to issue guarantee agri-loans

VICTORIA Finance and Private Agricultural Sector Support (PASS) Trust have partnered to offer guaranteed digital loans to small agricultural entrepreneurs.

The loans will be guaranteed through the PASS digital credit facility—Kilimo Pesa.

Victoria Finance Managing Director Julius Mcharo said yesterday during the signing ceremony that their mission is to enable small agri-entrepreneurs to access loans without collateral.

“These loans are specifically designed to support harvest costs, processing expenses and warehousing costs/rent, enabling small entrepreneurs to achieve greater success in their ventures,” Mcharo said.

The entrepreneurs can access loans ranging from 100,000/- to 1,000,000/- tailored to meet their financial requirements, explaining that the loan amount can be swiftly disbursed directly to the recipient’s mobile number and also facilitate easy repayment.

“Throughout the experience we have acquired in the financial sector, we know that there are many people in rural areas who need these small loans to carry out their agricultural activities,” he added.

PASS Trust Managing Director Yohane Kaduma said agriculture is the backbone of the economy, saying the partnership is directed to support agricultural entrepreneurs.

Mr Kaduma said that Victoria Finance is the first non-bank financial institution to work with, especially in providing digital credit guarantees to small agricultural entrepreneurs, especially those in rural areas.

“We want to enable the small agri-entrepreneurs who need this financial support and because most of them are not qualified to get loans in commercial banks,” Mr Kaduma said.

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