Bank of Agriculture – Loan details
Bank of Agriculture development loans up to ₦50,000,000 at 14% annually.
Loan amount
₦250K – ₦50.0M
Interest from
14.00%
Term
12 – 60 months
Approval
5 business days
Pros
- ✓ Government-backed development bank
- ✓ Subsidised interest rates from 14% per annum
- ✓ Available nationwide (all 36 states)
- ✓ Aligned repayment with agricultural cycles
- ✓ Access to CBN intervention funds
Cons
- ✗ Bureaucratic application process
- ✗ Collateral or group guarantee may be required
- ✗ Processing can take several weeks
- ✗ Primarily focused on agriculture sector
Requirements
- Farm plan or business plan
- Valid government-issued ID
- BVN
- Proof of land ownership or lease
- Collateral or group guarantee
- Recent bank statement
Company information
Bank of Agriculture Limited
PMB 5315, Bida Road, Kaduna
https://www.boanig.com
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