By Malachi Motano
Tea farmers in Embu can now take more loans without worries after their Sacco -County Sacco Society (CSS) increased loan repayment period to enable prompt repayment.
The Sacco has reviewed the loan repayment period for tea farmers from one to two years.
According to CSS Marketing Manager Lenny Muchangi, the move is expected to ease the burden of repayment following a low bonus payout to tea growers last year.
Muchangi says, “Many farmers haven’t been able to pay back loans following a decrease in tea bonuses. The new move would forestall rise in default rates.”
The Marketing Manager was speaking to the press recently during a member’s forum at Kanja Market.
He says the loans available at the Sacco currently include, Mshahara/ Salary advance, Maziwa loan, Emergency loan, School fees loans, Development (Jijenge loan), Motorcycle loan and Business loan/ microfinance/ trust fund.