Investment Financing for Young/New Farmers

Individuals, from 19 to 50 years old, who want to become farmers, whether or not they have participates in a State program.

The financing of farmers for:

• Purchase land and mechanical equipment
• Purchase and construct agricultural buildings
• Purchase plants and farm animals

From €5,000 up to €500,000

Maximum financing amount up to 80% of the estimated cost and up to 80% of estimated value of the mortgaged property

• To purchase mechanical equipment: up to 10 years
• To purchase land and agricultural buildings, and to build/renovate agricultural buildings: up to 15 years
• To purchase plants: up to 8 years
• To purchase farm animals: up to 6 years

It depends on the purpose of the loan and the timeframe required within the 1st year to produce and sell agricultural products.

• 12 months: with or without payment of interest
• Up to 36 months: with or without payment of interest

• Obligatory insurance of mortgaged property for fire and earthquake, for secured capital equal with the constructional value of property
• The customer is liable for cost of insurance, which must be paid on the anniversary date of the loan
• Depending on the financing amount of the investment plan, insurance coverage may also be required for any mechanical equipment

1. Candidate borrowers must be insured with the Greek Agricultural Insurance Organisation (OGA) or must have submitted their vouchers to “OGA” and fulfill the inclusion requirements

2. Candidate borrowers must be registered in the Registry of Farmers and Farms (MAAE) or must have submitted the relevant application