What are the loan amount and interest rate for agricultural cooperatives?
Agricultural cooperative loans generally refer to loans to farmers' professional cooperatives, which are loans issued by rural credit cooperatives to farmers' professional cooperatives and their members within their jurisdiction. In light of the characteristics of the organizational form of farmers' professional cooperatives and their level of business management, the lending method of "cooperative loans where appropriate, household loans where appropriate" is usually adopted. Let's take a look below at the loan amount and interest rate for agricultural cooperatives!
Loan amount for agricultural cooperatives
The loan amounts for farmers' professional cooperatives and their members are reasonably determined respectively according to their credit status, asset-liability situation, overall repayment capacity and operating efficiency, and in principle shall not exceed 70% of their net assets. In principle, the loan term for farmers' professional cooperatives shall not exceed 1 year, and the loan term for members of farmers' professional cooperatives shall not exceed 2 years.
Loan interest rate for agricultural cooperatives
Loans to farmers' professional cooperatives and their members are subject to preferential interest rates. The specific preferential margin is determined by the county (city, district) union, rural cooperative bank according to the interest rate policy and relevant regulations of the People's Bank of China in light of local conditions. If the business project of a cooperative member exceeds the business scope stipulated in the articles of association of the farmers' professional cooperative to which it belongs, it shall not enjoy the stipulated preferential interest rate.
Loan guarantees for agricultural cooperatives
Loans to farmers' professional cooperatives adopt the guarantee methods of surety, mortgage or pledge. Loans to members of farmers' professional cooperatives adopt "farmer joint guarantee + mutual aid fund guarantee", "farmer joint guarantee + farmers' professional cooperative guarantee", "farmer joint guarantee + mutual aid fund guarantee + farmers' professional cooperative guarantee" or other guarantee methods.
Loan purposes for agricultural cooperatives
1. Purchase of large and medium-sized agricultural machinery and tools.
2. Funds for the professional cooperative to uniformly purchase the materials needed by members for crop farming and livestock breeding.
3. The professional cooperative uniformly purchases and sells members' agricultural products.
4. The professional cooperative builds standardized production bases, constructs product grading and storage sites, purchases various packaging and processing facilities, and acquires cold storage and preservation facilities and transportation equipment, etc.
5. Other needs of the professional cooperative for production and operation.
6. Other lawful purposes.