RURAL FINANCIAL
SERVICES
RURAL FINANCIAL SERVICES
WHAT IS ON OFFER?
The ECRDA manages a rural finance programme which provides loans to deserving rural entrepreneurs.
Loans stimulate vibrant economic activity in rural and economically-depressed areas of the province while opening up opportunities for job creation. The extension of these credit facilities is critical in unlocking so¬cio-economic value in rural communities which often do not have the required security and collateral prescribed by private lending institutions.
What is the funding Criteria?
The ECRDA conducts its business in full compliance with the prescripts of the law. This means the ECRDA’s lending practices are in line with the National Credit Act (NCA) which is enforced by the Na¬tional Credit Regulator (NCR). The ECRDA conducts personal credit assessments on loan applicants in order to avoid reckless lending and over-indebtedness.
Who can apply?
The agency’s loan facility is available to entrepreneurs in all sectors of the rural economy. These sectors include retail, informal traders, primary producers, agro-processing, manufac-turing, forestry and livestock development among others.
What are the processes followed?
Prior to a loan being disbursed, there are processes that predate this stage, namely loan enquiry, loan application and loan approv¬al. The Loans Management System (LMS) records all these stages of loan consideration. Physical registers are used in addition to the LMS system.
What are the loans on offer?
ECRDA loans are quite diverse ranging from primary production, val¬ue addition and business- related facilities.
AFTERCARE SUPPORT
The ECRDA also provides aftercare support aimed at ensuring the survival and competitiveness of the enterprises funded by the entity. The sustainability of these enterprises is crucial in maintaining a decent repayment rate as well as in saving jobs.
GET IN TOUCH WITH US
Talk to us if you are a rural-based entrepreneur looking to unlock growth opportunities for your business through ECRDA loan funding.
Head Office
Waverley Office Park,
2nd Floor, Chiselhurst,
East London, 5201
Head Office
3-33 Phillip Frame Road,
Waverley Office Park,
2nd Floor, Chiselhurst,
East London, 5201
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