These are loans given to registered farmer groups, individual farmers, commodity traders and businessmen dealing with non-perishable commodities like coffee, maize, cashew nuts etc and its funding is extended against commodity stocked in bank’s controlled and authorized warehouse after submission of warehouse receipt. The bank holds the crops stored in the warehouse until buyers pay for the crops they purchased.

NMB can now provide funds to enable you to continue preparing for the next crop whilst your goods are being sold.

Benefits of NMB Warehouse receipt Financing

• Gives flexibility to farmers/ primary producers to sell their produce in good price
• Provides ample time and flexibility for primary producers to purchase raw materials
• Warehouse provides good storage and reduces post-harvest losses
• Gives easy access to credit for Small and Medium sized traders & producers
• Promotes quality of crops
• Crops stored in warehouses can be used as collateral to access credit

Beneficiaries

• Registered farmer groups/ primary cooperative societies/ Agricultural Marketing Cooperative Societies (AMCOS)
• Large farmers
• Local and International Trading Companies

Eligibility for NMB Warehouse Receipt Financing

• Loan Application letter
• Realistic crop procurement plan and Cash flow projections
• Memorandum of Association/Articles of Association (for companies)
• Certificate of registration/ Certificate of incorporation (for companies)
• Financial statements for at least three years
• Crop business license
• Board Resolution to borrow (for companies)
• Recent filed returns with Register of companies (for companies)
• Security of the loan (if pre-finance is required).
• Certificate of maximum liability from Registrar of Cooperatives (for cooperatives)
• Minutes of the AGM approving to apply for the loan for Cooperatives (for cooperatives)

Where to buy?

• If you are interested in this product, please contact your nearest NMB branch. You can use the branch finder on this website to find the one closest to you.