Proposal for Collateral-Free Loans for Farmers by PASS Leasing

TLDR

• Mwanza Regional Commissioner, Mr Said Mtanda said the increase was recorded under the government’s subsidised fertiliser programme, with farmers in the two regions using 12,420 tonnes worth 3.4bn/-, up from 10,062.
• Meanwhile, PASS Leasing representative, Mr Aziz Msangi said the company is expanding access to finance for farmers to acquire modern agricultural equipment.
• He said many farmers fail to obtain loans because they lack collateral, and the company has introduced financing arrangements that allow eligible farmers to access loans without collateral requirements.
• Many farmers face the challenge of not having collateral to borrow from financial institutions.
• We have come to provide these loans without any collateral,” he said.