Hello...
Let's inform one another as regards where farmers can get loans, grants or support funds for their business.
I know about Bank of Agriculture and can educate you on that if you require.
Let's make this trend!

How can one obtain loan from BOA, I'm interested please do help with more info thanks!

Oo

Very much interested in the Agriculture Grant,full details required pls or send:godsonsam2005@yahoo.com

I am also interested o! I was doing MSc in Agric Geography for a while, but couldn't complete it. I love Agric. I think I read somewhere that you must have started your little farm to an extent to qualify for the loan. Not so sure sha, but I know I read something like that earlier this year.

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If you want to get loan from bank of agric, open an account with them and make a deposit of 3k minimum. Run the account for 6mnths and you can apply for loan.

Bank of Agric loans requires u to operate account for 3 months. You can also benefit thru a cooperative. The maximum for each person N250,000.

amarawa: Bank of Agric loans requires u to operate account for 3 months. You can also benefit thru a cooperative. The maximum for each person N250,000.

..
3 months? I can't remember who told me 6 months.

FarmTech:
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3 months? I can't remember who told me 6 months.

i av also thinks its 6mnth.

Information is a powerful tools. Nice thread

BOA requires 3 months, with good Biz plan and proof, you can get their loan. I go there regularly. they just approved my High Quality Cassava Flour loan, but this requires u to belong to the Nigerian Cassava Growers Association.

Sorry I have not been able to participate, I've been quite busy.
Bank Of Agriculture grants loans to farmers and wanna be farmers all over Nigeria(especially in the northern part).
The loans are divided into three categories;

-Micro Fund: within the range of N1,000,000 downwards. Requires no business plan, and no Collateral but you must have a guarantor.

-Medium Fund: N1,000,000 - N10,000,000. Requires a business plan. May/may not require collateral but also expects you to have a guarantor.

-Macro Fund: N10,000,000 and above. This requires Business plan and collateral.

To have an access to their loan you need to open and run an account with them for only three months.
it simple and has lots of benefits
first you can secure the capital for ur bussiness from this source through loan services which they render
you get 6months free non payment till after six months
am in the process of securing mine currently
and once more they need no collateral for loans below 1million
all it takes is to keep ur account active with them
open with two thousand naira.
ur five passports
means of identification
if you need atm card an extra one thousand naira
interest varies but below 8%
after six months you start paying everything in installment

I hope my information was helpful? Please guys, let's share what we already know with tose who don't. You could be a hero for that.

This is an interesting write-up. But is it only in the North that they grant these loans. Again, are they particular about any form of farming or is it for any farming?

Now with no colateral, what happens if you can't pay back the loan?
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In an event of disaster in your farm - pest, disease etc, how do they consider that?
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The interest rate, is it annually?

FarmTech:
Now with no colateral, what happens if you can't pay back the loan?
..
In an event of disaster in your farm - pest, disease etc, how do they consider that?
..
The interest rate, is it annually?

If you don't pay, your guarantor bears the brunt. So you won't want to be heartless.
The interest rate is standard.

DadaStephen1:

If you don't pay, your guarantor bears the brunt. So you won't want to be heartless.
The interest rate is standard.

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What about disaster?

FarmTech:

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What about disaster?

You should have insurance to cover disater

makinde3:


You should have insurance to cover disater

Thanks.

pls where is the bank of agriculture. need to know thanks.

they are in

jaydee87:
pls where is the bank of agriculture. need to know thanks.

they are in every state depending on where u are

Willas04:
This is an interesting write-up. But is it only in the North that they grant these loans. Again, are they particular about any form of farming or is it for any farming?

Bank of Agriculture is a government owned bank with money pumped in from CBN. It's branches are in every state capital of Nigeria.

amarawa:
they are inthey are in every state depending on where u are

thanks your responds was very helpful but pls where in Lagos is the bank situated....
thanks...

DadaStephen1:
I hope my information was helpful? Please guys, let's share what we already know with tose who don't. You could be a hero for that.

Thanks, it's really helpful to me, please where are you located, am presently in lagos am looking for BOA locations too. Please can you help?

rareman:


Thanks, it's really helpful to me, please where are you located, am presently in lagos am looking for BOA locations too. Please can you help?

http://www.bankofagricultureng.com/BranchLocation.aspx?id=37 You can also see the full list from an article i wrote on my blog last year here: http://kalusam./2013/09/18/nigeria-locate-the-bank-of-agriculture-nearest-to-you/

rareman:


Thanks, it's really helpful to me, please where are you located, am presently in lagos am looking for BOA locations too. Please can you help?

Visit www.bankofagricultureng.com

rareman:


Thanks, it's really helpful to me, please where are you located, am presently in lagos am looking for BOA locations too. Please can you help?

When you get to the website, you will see branch locator, click your current state and you will get it. I currently live and work in Kaduna.

I am based in Abuja. I was told that if you bank with BOA in any state and you have another project in another state for BOA to fund, your branch will just introduce you to the other state and u can still access facilities there.

booked

That is good oo