SEIFAC Agricultural Loan: 12 Things Applicants Fail To Understand

Notice to Applicants on SEIFAC Grant Disbursement
Notice to Applicants on SEIFAC Grant Disbursement

SEIFAC Agricultural Loan – SEIFAC Agricultural and Business loan application was done in early of 2021.

The SEIFAC Agricultural and Business loan is aimed to support Nigerian Agriculturists in the 36 states and 774 local government area. The application received overwhelming attention from Nigerians who were on the look out for such programme.

Applicants are endlessly waiting for the official disbursement of loan as some meets the requirements for the loan. Applicants who have successfully applied has no cause for alarm.

The are some basic understanding applicants shouldn’t lack in respect to SEIFAC loan. These understanding are very germaine as a loan taker from SEIFAC and that would help maintain robust relationship with SEIFAC.

Also Read: Update! Notice To SEIFAC Applicants As CBN Announce Date To Disburse Funds/SEIFAC Loan Disbursement Date

SEIFAC Agricultural Loan – 12 Things Applicants Fail To Understand

The below are the basic 12 things applicants should understand about SEIFAC Agricultural Loan.

. SEIFAC programme satisfied Central Bank of Nigeria Requirements

. The programme is funded through financial institutions

. The programme is aimed to find Agricultural businesses

. The programme give loan NOT grant to applicants that deserves it.

. The programme will award N350,000 per hectare of farmland

. Individual farmers or Starter is expected to have the required 5 hectares of farmland. Such individual with 5 hectares will receive N1,750,000

. Beneficiaries are expected to pay Interest rate of 9% monthly

. The programme has two categories, namely CLUSTER and PERSONAL FARMING

. Applicants under cluster will provide 1,000 hectares of farmland

. Loan will be disbursed into farmers heritage bank bank account

. Beneficiaries will be monitored by Local Government Area Coordinator

. Every process will be monitored by Local Government Area by Cooperatives

Also Read: SEIFAC Payment: Major Announcement On Dateline For Applicants Documentation

SEIFAC Agricultural Loan – Loan Disbursement

SEIFAC Agricultural Loan will soon be disbursed at a date SEIFAC will communicate to all applicants. The loan will be received by applicants that fulfill the requirements and merits the SEIFAC Agricultural Loan. Once SEIFAC is ready, an update will be sent to them by SEIFAC.

SEIFAC Agricultural Loan