Log in Contributions Create Account Talk Main Page
For more procedures click : Nigeria
Nigeria - Get or Apply Agriculture Produce Finance


Procedure

[edit]

Apply In-Person:

  1. To apply for getting or applying for Agricultural Produce Finance in person, the applicant should approach any commercial bank or Central Bank branch office in Nigeria.
  2. The address and contact details of the Central Bank branch offices can be found in the following link: Link
  3. Click on the link, use the drop-down to select a branch name and get the address of that branch.
  4. Visit the respective branch of CBN and enquire the relevant official about the commercial banks that provide Agricultural Produce Finance or find a commercial bank that provides Agricultural Produce Finance, on your own.
  5. You will have to first open an account with that particular commercial bank by following a procedure prescribed.
  6. Then, proceed to apply for Agricultural Development Trust Fund Credit by getting a relevant application form from the relevant department. Or click here to download: Link
  7. Complete the application form with required details and necessary information under respective sections.
  8. Attest the completed form and attach the documents listed in the “Required documents” section of this page.
  9. Submit the application package to the relevant authority at the office.
  10. In case if you require an amount higher than N20,000.00, you will be required to provide security for the loan amount required as applicable.
  11. After submission, internal processing of the application and verification of the attached documents by the relevant officials will commence.
  12. If all the documents are found in order, the applicant will get a response about the approval or denial of the loan.
  13. And if your loan has been approved, your bank account should be credited with the money within the stipulated time from the date of approval.




Required Documents

[edit]


  • Completed credit Facility form
  • Incorporation Certificate
  • Memorandum and Article of Association
  • Board Resolution for the request of finance
  • Plan of Business/Feasibility report
  • Particulars of all Directors
  • Cash Security
  • Guarantor’s form
  • Any supporting document (as instructed)





Office Locations & Contacts

[edit]


Central Bank of Nigeria - Head Office,
Plot 33, Abubakar Tafawa Balewa Way
Central Business District,
Cadastral Zone,
Abuja, Federal Capital Territory, Nigeria
P.M.B. 0187, Garki Abuja.
Nigeria
Phone: +234 700 225 5226
Toll free line: +234 800 225 5226
Email: contactcbn@cbn.gov.ng
Website: Link



Eligibility

[edit]

  • Any Medium or Large Scale Commercial Farms who are engaged in cultivation of crops, rearing of livestock, fisheries, etc. can apply.
  • The applying company must be a Limited Liability Company.
  • Third parties like State Governments and the FCT can also apply in order to on-lend money to small scale farmers.



Fees

[edit]

The service is usually done free of charge.


Validity

[edit]

It depends on the cash flow projections.


Documents to Use

[edit]

Application form: Link



Sample Documents

[edit]

Please attach sample completed documents that would help other people.



Processing Time

[edit]

The processing time has various influencing factors like plan of the business, cash flow, etc.,


[edit]


Videos explaining the procedure or to fill the applications.
Attach videos using the following tag <&video type='website'>video ID|width|height<&/video&> from external websites.
Please remove the '&' inside the tags during implementation.
Website = allocine, blip, dailymotion, facebook, gametrailers, googlevideo, html5, metacafe, myspace, revver,
sevenload, viddler, vimeo, youku, youtube
width = 560, height = 340, Video ID = Can be obtained from the URL of webpage where the video is displayed.
e.gIn the following url 'http://www.youtube.com/watch?v=Y0US7oR_t3M' Video ID is 'Y0US7oR_t3M'.




Instructions

[edit]

  • The application form should be completed in duplicate and attached with two passport size photographs.
  • If your loan application is above N20, 000.00, the lending bank would require you to provide collateral. The collateral could be in tangible form or in form of 25% cash security of the intended loan amount.
  • You can still obtain a loan of N20,000.00 and below supported with a personal guarantee from a reputable person in your community or more than N20,000.00 through being a member of Self Help Group or Cooperative Society.



Required Information

[edit]

  • Applicant’s name
  • Age and Date of birth
  • Address of farmer’s residence
  • Contact number and email address
  • Address of the business
  • Occupation
  • Banker’s name and address
  • Details of the security offered
  • Dimensions of the farm
  • Other particulars of the farm
  • Income/Expenditure details
  • Banking particulars




Need for the Document

[edit]


The Agricultural Produce Finance facilitates trade in agric commodities by produce dealers who have adequate storage facilities to stock grains and other commodities at harvest season.


Information which might help

[edit]


Enter other informations which might help.



Other uses of the Document/Certificate

[edit]

Please explain what are other uses of obtaining this document/certificate.
e.g. Birth Certificate can be used as proof of identity.




External Links

[edit]

Place some external links which might help.



Others

[edit]

More information which might help people.




Content is available under Creative Commons Attribution unless otherwise noted.
Privacy policy About Wikiprocedure Disclaimers