Flexible Financing Loan for Young Farmers

A new financing program, specifically designed to cover all sett-up needs of a new farm. It aims to facilitate the establishment of young farmers by enhancing the farm’s liquidity by ensuring its smooth development.

Eligible expenses: purchasing of land, agricultural equipment and livestock.

Whom it concerns:

This loan is addressed to all individuals who are exclusively or mainly occupied in the agricultural sector, they are 18 to 40 years old and entitled to subsidies according to Measure 112 “Establishment of young farmers” of the Rural Regions Development Programme 2007-13”.

Advantages:

·         The loan covers up to 75% of the total investment cost

·         Variable interest rate

·         Grace period up to 3 years (annual interest payment and free payments of capital). Thereafter, annual amortization instalments.

Conditions:

Holding an ATEbank deposit account where all agricultural subsidies (including the subsidies of Measure 112 “Establishment of young farmers”) are being credited.

Loan Duration:

·         up to 8 years for land and agricultural equipment purchasing

·         up to 15 years for buildings constructions

·         up to 6 years for livestock purchasing