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How Are Land Bank Loans in Port Elizabeth? Find Out About Special Mortgages and Guarantees

In the coastal region of South Africa, you will come across a beautiful place called Port Elizabeth. Also known as The Bay, this major city of 1.3 billion inhabitants is located in South Africa, near Cape Town. It counts with a huge seaport and it was established in 1820. If your goal is to find loans that are up to your needs, then you should turn to Land Bank loans.

Who is Land Bank?

            Land Bank is a company that designs financial solutions to complex financial issues. The company tries to provide customers with different alternatives they can rely on in order to create a financial balance in their life, especially in the agricultural matters.

Where is the office located and how can you reach it?

            There is one location that you can reach in Port Elizabeth which is in 51 Newton Street, located in Newton Park. The number is 6045. If you are interested in ringing up this company, you can do so by calling at (041)392120. For more information, you can always look it up through their website.

Who can apply for a loan at Land Bank?

            Anyone can apply for a loan at this company. If you are in need of short loans, long term loans or medium term loans you can get one. However, they are mostly destined for those who work in agriculture; who have a project related to farm issues, for instance. The loans offered are varied and they offer different advantaged that you can exploit. Let us review some of the options available in Port Elizabeth at Land Bank:

Special mortgage loans at Land Bank: what are their advantages?

            If you are thinking of applying for a loan of this kind, you need to bear in mind that the people who can qualify would be the following:

  • Those who were deprived of their rights to acquire land.

  • Those who have the potential and skills to climb the social ladder and become brilliant farmers.

  • For those who already have land in towns, they should ask for a special mortgage bond.

  • For those children whose parents own farmland they can qualify if they are buying for the very first time.

  • The ones who would not qualify are those who have a spouse that already own farmland.

How are rates in general at Land Bank?

            When it comes to these special mortgage loans, the rates are generally set at 10% but they fluctuate a lot. Usually, they remain fixed for a period of twenty four months and they are intended to be kept low. However, the market will decide upon these values.

            For the moment, the offer of a special rate can be found in an amount of R500 000. Clients should take into account that if they decide to borrow over R500 000, then the rate is charged for terms that are longer at a standard rate. The term for this loan reaches up to 25 years.

Can you access guarantees?

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Of course you can. This way, you can guarantee the fulfillment and meeting of the obligations of corporate clients in relation to their agricultural activities. They are generally used by corporate clients in order to carry out agricultural activities and for the purpose of insurance premium guarantees.

How are the rates and costs of guarantees?

The rates are incredibly competitive. You can negotiate a cancellation clause and the terms are not fixed: you can vary them.

Exploring other options: revolving loan facilities

           These facilities will enable clients to finance their expenditure during the business, agricultural or economic cycle:

-For issuing guarantees of different kind, especially for legal purposes of related parties to the applicant or the applicant itself.

-For trade receivables

-For the costs of administration and maintenance when the season is off.

-For commodities of different sort, especially agricultural and for grain. This includes sugar, wheat, tobacco, oilseeds, among other items.

-For the requirements of production: this may include units for intensive farming.

-For the financing of certain operations regarding manufacturing.

-For the finance of inventory that stem from raw materials, whether they are manufactured or purchased.

How are the terms?

            The terms for these facilities are given a three-year basis. An annual review might affect this term. Now, the initial term for those clients that are new is a little bit different. It is centered on the applicant’s business cycle which would be of twelve or eighteen months for businesses. For sugar cane, the period would be of 24 months.

Which are the reviews at Land Bank?

            Whenever a client works with a company, they tend to leave a comment so that the company knows what they think about its financial and guiding performance. These are some of the reviews:

a) Land Bank was quick in helping me decide what would benefit me in the long run

b) The company creates a bond with you. They are interested in boosting your activities related to farm and their aim is to provide you with the necessary tools to help you grow in whatever project or challenge you may embark on.

c)The guarantees are an amazing way of remembering that, if something goes wrong, you have a backup at Land Bank.

            In conclusion, as you can see, there are plenty of options at Land Bank. You can choose a guarantee to help you make sure that your agricultural project will work and the loans are convenient because they are updated. In the business world, it always remains important to choose a company based on the service that it delivers to its clients. Can you trust it? Does it seem compromised with what it’s doing? Will it take responsibility if matters get rough? These are some of the basic question we need to ask to ourselves when picking a company. With Land Bank, there are no doubts that your agricultural activities will be in good hands.

Leave your question

Questions and answers

What kind of expenditure can I finance?

You can finance the cost of inventory.

Can I issue guarantees?

Yes, of any kind.

For how long do the rates remain fixed?

For a whole year.

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