THE Directorate of Industrial Supervision and Inspection announced that each entrepreneur is entitled to apply for up to K100 million loans from the MSME Development Fund to purchase up to four cotton ginning machines.
Cotton growers and ginning business owners seeking loans must pledge the machines as collateral, with the loan amount matching the machine value. Each machine costs approximately K25 million. The fund will accept 50 per cent of the machine’s value as collateral, and applicants must provide additional collateral or obtain a credit guarantee for the remaining 50 per cent. Applicants must hold an MSME registration and apply at the local MSME agency office or the relevant regional or state Directorate of Industrial Supervision and Inspection office.
The loan scheme aims to ensure the full processing of domestically cultivated cotton and enable farmers to gin their own cotton where feasible.
TWA/ KK
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