Working Capital for Farmers (WCF)

The Working Capital for Farmers ensures an annual credit line (CL) for farmers to cover the annual needs for their activities
DESCRIPTION
Working capital to cover a farmer’s annual needs.
IDEAL FOR
Farmers aged 18-70
INTEREST RATE
Variable based on the Base Rate for Farmers (BRF)
DURATION
One year with an one-year extension option
REPAYMENT
Repayment of capital at any time during the credit line period. Repayments should equal to at least 50% of the received subsidies, product sales and other compensation.
FINANCING
AMOUNT
up to 90% of the eligible CL

Features

An annual Credit Limit (CL) is extended to the farmers to cover the annual needs for their activities.


  • IDEAL FOR
    Farmers aged 18-70 (at loan maturity), who:
    Are beneficiaries of Single Payment Scheme (SPS) subsidies
    Provided that the SPS subsidies are deposited in a Piraeus Bank account.


  • ESSENTIAL PREREQUISITES 
    The credit line depends on the type of crops or livestock and their size.


  • INTEREST RATE
    The interest rate for the Working Capital for Farmers is variable for the entire term of the loan: currently at 7.10% (BRF: 7.10%) plus the Law 128/1975 levy, currently at 0.12% or 0.6% depending on the farmer’s main business activity.
    The interest rate is linked to the Base Rate for Farmers index, currently at 7.10%, which follows the market trends and is announced in the Press.

  • DURATION
    The limit is valid for one year with an one-year extension option.


  • LOAN AMOUNT
    up to 90% of the eligible CL


  • REPAYMENT METHOD
    The capital may be repaid at any time during the credit line period. Repayments should equal to at least 50% of the received subsidies, product sales and other compensation.


  • OTHER FEATURES
    -Collateral
    Pledge of the Farmer Account to which the annual subsidy is credited, mortgage lien on property.

    -Interest calculation
    -Every 6 months, on 30/6 and 31/12. Interest is capitalised.