CBN Agric Loan Application Form Portal 2022 Is Open – APPLY HERE

CBN Agric Loan Application Form Portal 2022 Is Open – APPLY HERE

CBN Agricultural credit loans are bank-guaranteed loans that provide farmers with up to 75% of the outstanding amount, less realized collateral.

However, the Central Bank of Nigeria, which is also responsible for the day-to-day operations of the scheme, manages the credit loan. Also, the guidelines specify the businesses are eligible for guarantees under the scheme.

Eligible States for CBN Agric Loan

• Abia State
• Adamawa State
• Akwa Ibom State
• Anambra State
• Bauchi State
• Bayelsa State
• Benue State
• Borno State
• Cross River State
• Delta State
• Ebonyi State
• Edo State
• Ekiti State
• Enugu State
• Federal Capital Territory
• Gombe State
• Imo State
• Jigawa State
• Kaduna State
• Kano State
• Katsina State
• Kebbi State
• Kogi State
• Kwara State
• Lagos State
• Nasarawa State
• Niger State
• Ogun State
• Ondo State
• Osun State
• Oyo State
• Plateau State
• Rivers State
• Sokoto State
• Taraba State
• Yobe State
• Zamfara State

Types Of CBN Agriculture Credit Loan

CBN Agric Loan Application Form: Corporate and Large-Scale Commercial Farms/Agro-Enterprises

A limited liability company (LLC) with a minimum asset base of N100 million, and also has the capacity to increase its net assets to N250 million in the next three years. Additionally, can comply with the Companies and Allied Matters Act (1990), is eligible for a credit loan.

• Have a well-thought-out business strategy.
• Provide up-to-date records of business activity, if any.
• Have an outsourcing program if possible.
• Follow all guidelines of the lending bank.

Medium-Scale Commercial Farms/Agro-Enterprises

To participate in the CBN agricultural credit loan, the borrower must meet the following requirements:

A limited liability company that complies with the Companies and Allied Matters Act (1990). That has a minimum asset base of N50 million and the capacity to increase its net assets to N150 million in the next three years.

• Have a well-thought-out business strategy.
• Maintain up-to-date records of the company’s operations.
• Have an outsourcing program if possible.
• Follow all guidelines of the lending bank.

Eligibility for CBN Agric Loan Application

Application Eligibility for a CBN Agricultural loan is an essential part of the process as it determines whether or not you are eligible to apply. The following factors determine your eligibility:

• Your age, marital status, and occupation are the first things to consider
• Second, if you have been employed or self-employed in agriculture for at least six months before submitting your application
• Also, you must be at least 18 years of age.
• Furthermore, have an active bank account in Nigeria or have access to one.
• Finally, You must be able to provide proof of income and ID.

General Requirement for CBN Agric Loan Application

Below are the general CBN Agric Loan Application Form requirement.

1. First, Bank Verification Number (BVN).
2. Second, Certificate of Training from recognized Entrepreneurship Development Institution (EDI) or evidence of membership of organized private sector
3. Then Letter of Introduction from any of the following, Clergy, Village Head, District Head, Traditional Ruler, senior civil servant, etc. (for individuals/ micro enterprises only).
4. Also, a Tax Identification Number (TIN) and current Tax Clearance Certificate TCC) where applicable.
5. Proof of business name registration or certificate of incorporation, as well as the filing of annual returns (if applicable) following the Companies and Allied Matters Act (1990).
6. Notably, to qualify to access this fund, you need to have been trained by an Enterprise Development Institute after which you will fill out the form. They will submit your form to CBN.
7. The CBN will ask your bank to verify your account details before proceeding with its assessment.

How to Apply for CBN Agric Loan 

With this in mind, Applicants should submit their application via CBN Agric Loan Application Form Portal: here

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