FREQUENTLY ASKED QUESTIONS

Let's answer your questions

Personal Loans

1What is a Personal Loan?
A Personal Loan from Terra Microcredit is designed for individuals who need financial support for personal expenses such as medical bills, school fees, home improvements, or emergencies.
2Who is eligible for a Personal Loan?
Salaried employees, self-employed individuals, and entrepreneurs with a stable source of income are eligible.
3How much can I borrow?
Loan amounts vary based on your income and repayment capacity. Our loan officers will assess your eligibility.
4What is the repayment period?
Repayment periods are flexible and depend on the loan amount and your repayment ability.
5What documents do I need to apply?
  • Valid means of identification
  • Proof of income (pay slips, bank statements, or business records)
  • Proof of address
6How quickly can I get the loan?
Loan approvals and disbursements typically take a few days, depending on document verification.

Trade Finance Loans

1What is a Trade Finance Loan?
A Trade Finance Loan is designed to help traders, wholesalers, and retailers access funds to purchase goods, expand inventory, or manage seasonal demands.
2Who can apply for a Trade Finance Loan?
Business owners, market traders, and wholesalers who require funding for business operations.
3How does the loan repayment work?
Repayments are structured to align with your business cash flow.
4Do I need collateral for a Trade Finance Loan?
Minimal collateral may be required depending on the loan amount and borrower profile.

Working Capital Loans

1What is a Working Capital Loan?
A Working Capital Loan helps businesses manage day-to-day operational expenses such as rent, salaries, and inventory restocking.
2What types of businesses qualify for this loan?
Small and medium-sized enterprises (SMEs) across various industries.
3Can startups apply for a Working Capital Loan?
Yes, as long as they meet the eligibility criteria and provide the necessary documentation.
4How soon can I access funds?
Loans are processed quickly to ensure your business does not experience financial strain.

Agro Loans

1What is an Agro Loan?
An Agro Loan is designed for farmers and agribusiness owners to finance agricultural activities such as purchasing seeds, fertilizers, equipment, or expanding farm operations.
2Who can apply for an Agro Loan?
Smallholder farmers, agribusiness owners, and agricultural cooperatives.
3Are repayment plans flexible for Agro Loans?
Yes, repayment schedules are structured to align with harvest cycles and cash flow.
4What do I need to apply for an Agro Loan?
  • Valid means of identification
  • Proof of farming activity or agribusiness registration
  • Farm ownership documents (if applicable)
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