CBN Agric Loan Application Form Portal 2023 Is Open – APPLY HERE

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CBN Agric Loan Application

CBN Agric Loan Application Form Portal 2023 Is Open – APPLY HERE

Bank-guaranteed CBN Agricultural Credit Loans offer farmers up to 75% of the outstanding balance, less realized collateral. The credit loan is managed by the Central Bank of Nigeria, which is also in charge of the scheme’s daily operations. According to the rules, businesses are eligible for guarantees under the program.

Qualified 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

Different Types Of CBN Agriculture Credit Loan

Corporate and Large-Scale Commercial Farms/Agro-Enterprises

A limited liability company (LLC) with a minimum asset base of N100 million and the capacity to increase its net assets to N250 million in the next three years, complying 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.
  • Observe all the lending bank’s regulations.

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). can grow its net assets to N150 million over the course of the next three years and has a minimum asset base of N50 million.

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

Eligibility/Criteria for CBN Agric Loan Application

Application Eligibility for a CBN Agricultural Loan is a crucial step in the procedure because it establishes whether you are qualified to submit an application or not. 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
  • At least 18 years of age is required.
  • Have an active bank account in Nigeria or have access to one.
  • You must be able to provide proof of income and ID.

Basic Requirement for the Loan Application

The basic requirements to apply for a CBN Agricultural Loan are listed below.

  1. BVN, or bank verification number.
  2. Certificate of Training from a recognized Entrepreneurship Development Institution (EDI) or evidence of membership in an organized private sector
  3. For individuals or micro businesses only, a letter of introduction from a clergy member, a village or district head, a traditional ruler, a senior civil servant, etc.
  4. Tax Identification Number (TIN) and, if applicable, a current Tax Clearance Certificate (TCC).
  5. Proof of business name registration or certificate of incorporation, as well as filing annual returns (if applicable) following the Companies and Allied Matters Act (1990).
  6. You must have received training from an Enterprise Development Institute before filling out the form in order to be eligible for this fund. They will submit your form to CBN.
  7. The CBN will ask your bank to verify your account details before proceeding with its assessment.

Steps to Apply for CBN Agric Loan 

Applicants should submit their application via CBN Agric Loan Application Form Portal: here

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