odb.com.om Apply For Agricultural Loans : Oman Development Bank

Name of the Organization : Oman Development Bank
Type of Facility : Apply For Agricultural Loans
Country : Oman

Official Website : http://www.odb.com.om/

Apply For Agricultural Loans :

Agricultural development is a collective responsibility of all classes of society. This has been confirmed by the positive results released by this sector.

Related : Oman Development Bank Apply For Professional Loans : www.statusin.org/5498.html

Loans are given by the bank for establishing new agricultural projects or for the expansion of existing ones.

ODB grants loans up to R.O one million where it finances a maximum of 50% of total investment if the project is located within Muscat Governorate and 56% if the project is located outside it. The bank charges the loanee an interest rate of only R.O 3% on these loans.

Who can request this service:
People interested in agricultural projects

Steps to follow to request the service:
A-Process steps:
Receiving the loan application
Studying the loan application
Informing customer/ company In case if the loan request is approved or regretted
When the loan request is approved, the mortgage gets registered with the concerned government depts..
Loan amount gets disbursed after investors’ contribution.

B-List all forms/applications that need to be completed to apply for the service:
Filling the loan application form

What documents are needed to process:
Documents required for loan application:
Copy of the permit, registration, or approval issued from the concerned organization, whether for new or existing projects.
The official documents that show the legal form of the project.
The documents pertaining 3 quotations from contractors / suppliers of assets

The feasibility study of the project including the following:
A- Regarding new projects:
Technical, marketing and financial aspects that determine the viability of the project.

B- Regarding existing projects:
The project’s past experience since its establishment. Specify whether when the project obtains a soft loan, it can expand the project productivity or increase the service capacity.
Audited financial statements for the past 3 years.

C-Regarding current projects with existing encumbrances:
Financial or otherwise, state the difficulties encountered, their causes, and the suggested means of overcoming them.
Audited financial statements for the past 3 years

Special conditions if any applicable:
The applicant’s age should be from 19- 50 years.
The subsidies loans are meant to be offered to the segment of Omanies who manage the entire project by themselves.
The loans above R.O 50000 are meant to be offered to the value added developmental projects that fall within the activities included in the royal decree.

How the service is processed:
Customers should attend personally to the bank.

Download Forms :http://www.odb.com.om/Forms.aspx

Fee to be paid:
Description Fee to be paid
Loans less than R.O 5000 R.O 10
Loans from 5000- 50000 R.O 50
Loans from 50001-250000 R.O 100
Loans from 250001- 1000,000 R.O 250

Places of Payment: ODB branches

About Us :
Welcome to the website of Oman Development Bank. The site is designed to provide you with information about the history of the bank, its services , products and latest news. It also provides contact details of the bank branches located in the different regions of the Sultanate.

Since inception, the bank is working to promote economic and social development in the country by contributing effectively through financing of projects in vital economic sectors and in line with the efforts of the wise government of His Majesty Sultan Qaboos bin Said.