Get an Agrobusiness Loan in Nigeria without a Collateral :CBN Direct Loan

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Do you own a business or want to start one? Getting a loan for your business has not been easy but with the help of the Federal Government of Nigeria through the CBN you can get a quick loan to kick start your Agrobusiness .
Small and medium enterprises investment loan has been designed specifically by the federal government to promotes agricultural businesses of micro, small, medium enterprises(MSME).

Agrobusiness Loan is a federal government intervention funding scheme through CBN that promotes Agric businesses as a vehicle for sustainable economic development and employment generation. 

 Features 

  •  Loan limit: N10Million(maximum) 
  •  Interest Rate: 5% per annum 
  •  Tenor: 7 years. 
  •  Moratorium: Maximum of 18 months on Principal and 6 months on Interest Eligible.

 Requirements 
  • Duly completed application form. 
  •  Bank Verification Number (BVN). 
  •  Certificate of Training from recognized Entrepreneurship Development Institution (EDI) or evidence of membership of organized private sector
  •   Letter of Introduction from any of the following, Clergy, Village Head, District Head, Traditional Ruler, senior civil servant, etc. (for individuals/ micro enterprises only).
  •   Evidence of registration of business name or certificate of incorporation and filing of annual returns (where applicable) in compliance with the provisions of the Companies and Allied Matters Act (1990).
  •   Tax Identification Number (TIN) and current Tax Clearance Certificate TCC) where applicable. 

 Sectors/Businesses

  •  Agricultural sector.
  •  Real sector including Manufacturing, mining, and petrochemicals. 
  •  Service sector including Information and Communication (ICT) and the Creative Industry.
 To qualify to access this fund, you need to have been trained by an Enterprise Development Institute after which you will fill the form. They will submit your form to CBN.Then,CBN will ask banks to verify your account details and then CBN proceeds to conduct its own assessment.

You can contact UBA Bank Or the Nearest Bank for Clarification

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