ELIGIBILITY

  • Borrowers must be cane growers registered with Mauritius Sugar Syndicate.

PURPOSE

  • Land development, derocking, levelling, plantation, payment of labour, fertilizers etc.

AMOUNT

  • Rs.10,000.-per acre for land to be developed
  • Rs.20,000.-per acre for cane plantation.
  • Rs.12,000.-per acre for crop maintenance.
  • To be reviewed annually depending on the cost of cultivation.

REPAYMENT

  • 1 & 2 (a) Repayment of principal to be linked to receipt of sugar proceeds from Mauritius Sugar Syndicate.
    • (b) Interest to be serviced monthly.
  • 3. Maximum one year (Out of sugar proceeds).

SECURITIES

Up to Rs.50,000

  • DP Note
  • Letter of Undertaking
  • Lien on sugar crop registered with Mauritius Sugar Syndicate to be renewed every year.
  • Over Rs.50,000.

DP Note

  • Letter of Undertaking
  • Lien on sugar crop registered with Mauritius Sugar Syndicate.
  • 1st rank fixed charge on the land under plantation to be registered. In case plantation is done on leased land, an acceptable immovable property to be charged.

PROCESSING FEES

  • ½ % minimum Rs.250.-one time (No management fee to be charged at the time of renewal)