CBN Agricultural Guarantee Scheme Loan Application has commenced for farmers Nationwide.
The fresh application is intended to assist farmers in Nigeria to have access to pool of loan for farming work. The loan application can be accessed from any CBN Branch at the states levels nationwide.
What You Need To Know About The CBN Agricultural Guarantee Scheme Loan Application
The loan application is managed by the Central bank of Nigeria at any of the bank branch nationwide. The loan is made available for farmers across the 36 states of the federation. The scheme provides essential cover for banks who offers Agricultural Loan to farmers and farmers association.
This offers opportunity for bank to provide abundance loan for individual farmers and farmer’s association. The scheme made available a total of authorised sum of N3 billion, 60% controlled and inputs by the federal government, with 40% by the CBN.
Requirements for CBN Agricultural Guarantee Scheme Loan Application
. Intending Beneficiaries must be a farmer in Nigeria with proof.
. Such must have a collateral if your loan amount is above N20,000.
. The collateral should and must be in a tangible form, or be inform of 25% cash security of the intended loan amount in form of savings.
More Details of CBN Agricultural Guarantee Scheme Loan Application
The Central Bank of Nigeria (CBN) stated that aside the Central Bank of Nigeria (CBN) office in Abuja, other development finance offices have been established in every branch of the Central Bank to administer the Agricultural Credit Guarantee Scheme.
The development offices functioned by officers under the overall control of the Central Bank of Nigeria in each State.
A single obligor have Ben set at N100,000 by the Central Bank of Nigeria (CBN), while obligor limits for group and cooperative or society is set at N50,000 for all secured Loan.
How to Apply For CBN Agricultural Loan. Individual interested should click LINK and apply.
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