CBN Non Agric Loan – The Nigerian central bank offers a wide range of loans for interested Nigerians.
Among the loans is non agric loan which an individual can apply and benefits from.
Categories of Non Agric Loan
1. Micro Credit
. Loan size – Maximum of NGN250, 000.00
.Loan tenor – Short Term (not more than 2years)
. Interest rate – At Prevailing Rates
. Target group – Small holder farmers, petty traders, artisans, etc.
. Lien deposit – 20% of loan amount required
Security – 2 reputable guarantors
. Must operate account with the Bank for a minimum period of 90 days
.The micro projects must be viable
. Can be accessed by individual,cooperatives or self-help groups.
2. BOARBI Model
.Entry level – N20,000.00 – N40,000.00
. Target Group – Rural active poor
. Loan tenor – Maximum of 10 months
.Lien deposit – 10%
.Interest rate – At Prevailing Rates
.Project types – Micro enterprise
. Approving authority – Branch Credit Committee
. Mode of collection – Weekly at Group Meetings
. Security – Cross guarantee of Group members
. Accessible only through women group
Also Read, Apply: P-yes Enlistment Requirements – Applicants Should Note
How to Get Started
Individual can Read more about CBN non agric Loan application
Individual interested should visit bank of Agricultural web portal to register, fill all online details as required. Such can click to Register to benefit from the loan programme.
