Qualifying for Assistance

• To qualify for finance, you must be registered with the Ministry of Agriculture and Food Security (MAFS) and issued with a Farm Registration Identification Card. You must also be registered with the Barbados Revenue Authority (BRA) and the National Insurance Department and show evidence of compliance with these agencies.

• Loan financing is available from BDS$50,000 to BDS$1 million at an interest rate of 6.5% per annum calculated on a reducing basis. Exceptions may be made on a case by case basis.

• Security is required, usually in the form of a legal charge over assets acquired with the proceeds of the loan and any other collateral that might be deemed necessary.

• In the case of disasters and the loss of crops and livestock, please contact your extension officer, MAFS or the Barbados Agricultural Development Corporation for assistance.