Lesgupnigeria:
I hope this will be helpful for people looking to access loan for agricultural business


Finally the Central Bank of Nigeria has published the procedure for accessing the fund. Find text below.

1.0 Is your business in any of the following areas?
. Agriculture
. Manufacturing
. Cottage Industries
. Artisanship
. Services
. Trade and general Commerce
. Renewable energy/energy efficient products and technologies
. Other income generating projects as may be prescribed by the CBN

2.0 If “Yes”….
2.1 Prepare your business plan or statement on how much you want for your business
2.2. You can get loan of up to:
(a) N500,000.00 for your micro-business; and
(b). N50 million for Small & Medium Enterprise (SME)

2.3. Go to your bank or any of the following institutions to access the Fund:
. Microfinance Banks
. Commercial Banks
. Cooperatives
. Finance Companies
. NGO-Microfinance Institutions
. Development Finance Institutions, i.e. Bank of Industry and Bank of Agriculture

3.0. Tell your bank how much you need

4.0. Your bank will discuss your request and provide you the money
4.1 The maximum interest rate of 9.0% p.a (charges inclusive) is applicable to all loans

5.0. Period for the repayment of the loan:
a) For micro business, it is a maximum of one year
b). For small and medium enterprises, it is a maximum of three years

NOTE: 60% of the Fund is reserved for enterprises owned by women; 2% for persons living with disability and 10% for start-up businesses.

There have been reports of bank branches claiming ignorance of the fund. In that eventuality or for more information, please send e-mail:
msmedf@cbn.gov.ng

Lesgupnigeria:
Ahead!!!

tuk2ato:
Please how does the association thing work? For example if I join poultry association of Nigeria PAN, how will I be able to benefit from the loan.

Lesgupnigeria:

As a registered member,you will have access to loan
You can meet with your state executive members for more info.

tuk2ato:
Thank you sir.

rommie7:
@lesgupnigeria. How do I reach you?

Lesgupnigeria:
Stay connected on this thread with updated,useful info about the business of agriculture from fund generation,and all operation activities involved with it.

Tbagwell1:

I need to know how it is possible for a fresh graduate to access this loans bearing in mind that they don't have assets to use as collateral? Am into fish farming and crop production, just added d crop production this year and getting funds to finish this project is an issue. If their is anyway I can get this funds, kindly let me know. This is my email teslimoluyomi@yahoo.ca. Thanks awaits ur favorable reply.

Lesgupnigeria:

I will send to you some updated info that will be useful for you to access agric loan.
You can be expecting it tomorrow.

nbolaji:

nice work you are doing here @lesgupnigeria. i won't mind getting the updated info too sir. But you promised to send me a mail which i never see till date. please kindly send the updated info to brainytech360@gmail.com

Lesgupnigeria:

I will send to you some updated info that will be useful for you to access agric loan.
You can be expecting it tomorrow.

Lesgupnigeria:

I will send to you some updated info that will be useful for you to access agric loan.
You can be expecting it tomorrow.

Lesgupnigeria:
Good morning people!!!

Tbagwell1:

Still haven't seen the mail u promised sending.