​​RURAL FINANCIAL SERVICES

What is the funding Criteria?

The ECRDA conducts its business in full compliance with the prescripts of the law. This means the ECRDA’s lending practices are in line with the National Credit Act (NCA) which is enforced by the National Credit Regulator (NCR). The ECRDA conducts personal credit assessments on loan applicants in order to avoid reckless lending and over-indebtedness.

Who can apply?

The agency’s loan facility is available to entrepreneurs in all sectors of the rural economy. These sectors include retail, informal traders, primary producers, agro-processing, manufacturing, forestry and livestock development among others. 

What are the processes followed?

Prior to a loan being disbursed, there are processes that predate this stage, namely loan enquiry, loan application and loan approval. The Loans Management System (LMS) records all these stages of loan consideration. Physical registers are used in addition to the LMS system.

What are the loans on offer?

ECRDA loans are quite diverse ranging from primary production, value addition and business- related facilities.