jamp:


Thanks bro. I will confirm tomorrow from our mgt. The product paper I used said livestock farming is not included.

Thanks again. How is ur farm doing?

temirunsh:
Hi Jamp,

How can I get more information on this?

Thanks.

Temi

LSA:
Let's be careful about giving wrong info. You can also get the loan for livestock farming and not just Agro allied business. Am a beneficiary of the loan for livestock farming. Truth be told, the loan is not easy to get. Also I am based in a abuja and I use a collateral outside abuja to secure the loan

kaysy:
Zenith Bank and diamond Bank within my location seems not to be aware of this scheme, please who has got some fund via this scheme.

zayons:


yes I am one of the beneficiary of the CBN loan . although it is a long process but real. interest is 9% per annum. am still repaying monthly.

Lesgupnigeria:
No more worries about who to talk when starting out,you can send a mail or call me for advise,free mentorship for a headstart in your agribusiness.

You can also book one-on-one arrangement to discuss about how to succeed in the business of agriculture.
It is absolutely Free.

jam04:
See people hoarding information as if the disbursed fund belongs to them. If you share info how you got yours will that make the bank withdraw the loan they gave you?

For those interested, approach first bank in your area. They are more receptive and have agric desk, also make sure you have a collateral or a guarantor in place. Diamond bank accepts guarantor in place of a collateral.
skyee bank accepts collateral

Hope this helps

ollyboy009:

God bless you bro, you spoke my mind. Pls what is the duration for using the loan (12, 24 or 36 months)? and what is the maximum this scheme lend to agroprenuers?

jam04:


It amazes me how some people hoard public informations as if it makes their lives better.

For small scale businesses and start up it is 500,000 and repayment is within a year at 9% interest rate max

For medium scale businesses maximum loan is 50 million with a 3 years repayment plan.

Collateral those not necessarily mean landed properties. It could be equipment( farm equipment) or machinery

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:

The way to go about it is to register with a recognised association or as farmer,then visit BOA to apply for loan
Only 20% equity will be deposited in the bank

jamp:
That loan is not easy to get. The agriculture part is for agroallied business and not for livestock farming.

To access the funds in Abuja, you must have a collateral in juicy areas of Abuja. I was previledged to do a presentation on the funds last month in a commercial bank, one of the requirement is a good collateral which the bank will sell to recover the funds in case the farmer default

I wish they can simplify the loan cos of small scale farmers.

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

Teagirl:
if you are a farmer and you stay in abuja... Contact me, am looking for people in agric business to come acces loan