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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.
You can contact UBA Bank Or the Nearest Bank for Clarification
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