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.