I don't know if you're aware of the national microfinance Bank set up in collaboration with the Central Bank of Nigeria.

This bank has two current loan services and you can apply for any amount of money you require to setup or expand your farming business.

One of it's loan services is called anchors borrowers program and is designed in such a way that you can apply for a loan without collateral.

Requirements:



On the national microfinance Bank website nmfb.com.ng they refer you to their bank physical address to gain more info.

So I visited their branch in Benin by the nipost office in Airport road opposite the Oba Palace. Here's what I was told is required.



1. You will need to be a farmer and have an already existing farm location. Start ups are also accepted.

2. You will need to form a group of ten people who are also farmers or have a business proposal on farming.

3. Each member of your group need to open a savings account with the bank. Minimum deposits is 5000 naira.

4. The creator of the group is the anchor(representative) of that group and is the person representing the group to the bank, thus communicating information to the group from the bank.

5. The anchor is not responsible for the loans taken by members in case they default.

6. Members acts as guarantors for each other so no need to search without hope for people to guarantee your loan application.

7. All members must have valid identification, voters card and national identity card. And BVN numbers.

8. Approved loan application will be disbursed to the savings account created with the bank.



Farming activities may include planting of crops or raising of livestocks. E.g fisheries, piggery, poultry etc.

Note: after successful loan application, agents of the bank will be sent to assess your farm location and loans will be

Reduced or improved according to assessment scores.



Interested farmers located in Benin city should please write to me through this email ikyesbiss@gmail.com



Let's build a group and take advantage of this opportunity.



This is not a scam, google nirmsal anchor borrowers program to verify.

Same in Lagos at the Ikeja post office using the nmfb.com.ng bank website.

Thanks for sharing