The Seasonal Loan (SNL) is designed to support farmers and traders in agriculture activities such as animal raising, fishing, agri-business, and relevant agriculture productions.  This loan provides clients who have a reliable and stable source of income and strong collateral, but their income-based activities are on a seasonal basis rather than a steady monthly income.

LOLC’s Seasonal Loan offers clients a number of key benefits:

• A reasonable interest rate, calculated based on outstanding balance.
• Convenient option to apply for and repay loan at nearest LOLC office or any money transfer agents which has been incorporated with LOLC.
• Flexible loan terms and repayment plan that are catered to your need.
  

SNL is designed for adapting to the needs of our clients by allowing several options of repayment modes:

• Fixed installment (monthly interest and principal repayment)
• Semi-balloon (monthly interest repayment and the principal repayment based on cash flow analysis and mutual agreement),
• Balloon (monthly interest repayment and the principal repayment at the end of the contract),
  
• Annuity, or
  
• Flexible annuity.
  

Fee:

Processing fee is charged 1%-7% per cycle.

Requirement:

• Be a majority aged 18 to 70 years old
  
• Permanent resident
• Have a legal business and regular income
• Have a good record and be reliable
• Have enough capacity to repay the loan
• ID card and family book, or resident book, or birth certificate
• Agree to the loan term & conditions.

How to apply:

To apply for Loan, client shall follow these simple steps:

• Talk to a LOLC staff in your area or at the nearest LOLC office or via call center 023 991 991.
• Request a specific amount and term based on your needs.