Central Bank of Nigeria has given guidelines on how to access/register for Agric Fund Loan via its website. This to inform all interested Nigerian Youths who wish access or apply for CBN Agric Fund Loan to register online. Learn more under.
At the end of this article, I will show you steps to apply and register for Central Bank of Nigeria Agric Fund Loan and documents you need to apply with through online.
CBN has announced guidelines which also included the Accelerated Agricultural Development Scheme (AADS)
In the guidelines for the Operations of the Agri-Business, Small and Medium Enterprises Investment Scheme (AGSMEIS) for Non-Interest Financial Institutions (NIFIs)
Simple steps on how to access/register for CBN Agric Fund Loan
- The CBN Agric application of the Fund shall be categorized into three broad components. They are debt, equity and developmental components.
- The debt component shall constitute 50% of the fund which shall be disbursed as financings to eligible businesses through Non-Interest Deposit Money Banks.
- Asset purchased shall be registered with the National Collateral Registry (NCR).
- Financing limit: N10,000,000
- Mark-up: 5% per annum
- Tenor: Up to 7 years (depending on the nature/gestation period of the
- Moratorium: Maximum of 18 months for principal and 6 months on mark-up.
Required Documents for CBN Agric Fund Loan
- Applicants duly completed application form.
- Applicants Bank Verification Number (BVN) is required
- Applicants Certificate of Training from recognised Entrepreneurship Development Institution (EDI) or evidence of membership of organised private sector association is required
- Applicants Letter of Introduction from any of the following: Clergy, Village Head, District Head, Traditional Ruler, senior civil servant etc (for individuals, microenterprises only) is required
- Applicants 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) is required
How to apply for CBN Agric Fund Loan
The Registration is online. Apply here
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