Agricultural Banking

Mode:

Crédito simple o línea de crédito.

Currency:

Cuban pesos (CUP).

Maximum term:

From 3 and 10 years, according to the purpose of the credit.

Intended for: state farms, Agricultural Production Cooperatives (CPA in spanish), Basic Units for Cooperative Production (UBPC in spanish), Credit and Service Cooperatives (CCS in spanish), Individual farmers, land usufructuaries and other agricultural producers.

Purpose:

  • Promote, renew or complete the planting of permanent crops (with the exception of forestry). Covers all expenses until the plantation has been established, including cultural services until the first marketable production is obtained. Maximum term: 4 to 10 years, depending on the crop.
  • Forestry plantations: Covers all slash-and-burn practices and land conditioning costs, including expenses for preparing the land, filling bags with soil for seed planting or purchasing seedlings, planting and other silviculture procedures, until the plantation is established. Maximum term: 3 to 7 years.
  • Land conditioning. Covers bulldozing, brush clearing, use of anti-erosive measures, including filling, application of organic fertilizers, liming and other procedures, provided they are not applied annually. Maximum term: 5 years.
  • Procurement of machinery, agricultural equipment, resources and working animals. Covers procurement, handling and transportation costs to the production unit, and when appropriate, installation and assembly costs. Maximum term: from 5 to 10 years.
  • Construction of drying courts, curing houses, tobacco drying houses, fences and other rural constructions. Covers the costs of construction materials and / or payment salaries of the builders. Maximum term: from 5 to 10 years.
  • Purchase of breeding stock and dairy cattle. It also covers procurement costs, including handling and transportation of the animals to the production unit. It also includes expenses in livestock rearing during the years of grace. Maximum term: between 5 and 10 years.
  • Capital repairs of tangible fixed assets. It covers the costs of repairs carried out by the production unit or those paid to the entity providing these services. Maximum term: between 5 and 10 years.

Requirements:

  • Inscription in the state registers according to the form of production.
  • Certification of legal land tenure.
  • Insurance policy or the application for it.
  • Bank account at the BANDEC branch where the request was filed.
  • Appointment and signature of the persons authorized to contract and pay debts.
  • Application form.

Guarantee:

  • Agricultural insurance.
  • Joint guarantors.
  • Pledge of accounts.
  • Contract assets (jewelry, motor vehicles, livestock, tractors and harvest machines).
  • Immovable property mortgages (summer homes and vacant lots).

Mode:

Simple credit or line of credit.

Currency:

Cuban pesos (CUP).

Maximum term:

18 months.

Intended for: State farms, Agricultural Production Cooperatives (CPA), Basic Units for Cooperative Production (UBPC), Credit and Service Cooperatives (CCS), individual farmers, land beneficiaries and other agricultural producers.

Purpose:

  • Temporary crop productions (production cycles of less than 18 months). Covers the entire production cycle.
  • Permanent plantations (production cycle of more than 18 months). Covers agricultural cultivation expenses up to the second year, depending on the crop. It also includes harvesting, processing and storage expenses.
  • Livestock production. Covers expenses for the purchase of cattle, including herd rearing and management.
  • On-farm consumption. Covers the entire short cycle crops production cycle.
  • Production of seedlings.
  • Protected, semi-protected, organoponics and intensive vegetable gardens.
  • Marketing expenses.
  • Cleaning and packing selected crops
  • Production of fresh vegetables and condiments.

Requirements:

  • Registration in the state registers according to the production method.
  • Certification of legal land tenure.
  • Insurance policy or the application for it.
  • Bank account at the BANDEC branch where the request was filed.
  • Appointment and signature of the persons authorized to contract and pay debts.
  • Application form

Guarantee:

  • Agricultural insurance..
  • Joint guarantors.
  • Pledge of accounts.
  • Contract assets (jewelry, motor vehicles, cattle, tractors and harvesters).
  • Immovable property mortgages (summer homes and vacant lots).