Apply/Register for CBN Agric Fund Loan 2020/2021: Steps on How Access AGSMEIS Loan – The Central Bank of Nigeria has given guidelines and steps on how to apply or register for Agriculture Fund Loan and also how to access AGSMEIS loan. The official website for CBN Agric Fund Loan has been released and is now available for all to apply or register. All interested persons can now apply or register and have access to CBN Agric Fund Loan. SEE FULL DETAILS BELOW.
This article will help you to apply for CBN Agric Fund loan successfully through the descriptions and guidelines as outlined below.
In the guidelines the CBN Agric Fund Loan is for the Operations of the Agri-Business, Small and Medium Enterprises Investment Scheme (AGSMEIS) for Non-Interest Financial Institutions (NIFIs)
Documents Required for CBN Agric Fund Loan
- Applicants duly completed application form.
- Applicants Bank Verification Number (BVN) is required
- Applicants Certificate of Training from recognized Entrepreneurship Development Institution (EDI) or evidence of membership of organized 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 much (Amount) does CBN pay for Agric Fund Loan
You can be paid N10,000,000 once you are eligible for the loan.
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.
How to Apply for CBN Agric Fund Loan
To register successfully for CBN Agric Fund Loan online: Click Here
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