21. Financing of JLGs of Tenent Farmers, Small Farmers, and marginal Farmers

Rabit Plus

Eligibility

Self Help Groups / Joint Liability Groups consisting of 5 farmers each who are desirous of taking rabbit farming.

Purpose: To meet the cost of outer shed, hutches and cages for bunnies and to meet the cost of breeder rabbit, feed cost, insurance and veterinary aid.

Amount of Loan: Loan is to be sanctioned as Agriculture Term Loan with a limit of Rs.25670/-. The proposed cluster includes minimum of 5 members and loan per group will be 1,28,350/-

Rate of Interest: Interest rates ranges from 1.50% to 2.50% above Base Rate for various limits.

Security

Primary – Hypothecation of assets created out of bank finance.

Collateral – Personal guarantee of group members.

Repayment:

The loan amount will be repaid with in 5 years in 16 quarterly instalments plus accrued interest. Gestation period 12 months.

Repayment: With in six months or on sale of produce whichever is earlier.