Agriculture is the mainstay of any economy as it contributes to the socio-economic development of any nation. NOMASE MfB has designed Agric Loan to finance the farming activities of individuals, group or corporate organisations. The repayment schedule is designed to suit the seasonal nature of such activities.
Features
- Facility range: N50,000 (minimum) to N500,000 (maximum)
- Methodology: Individual, group and corporate
- Duration: 1-12 months
- Grace period: 30-60 days
- Prospective clients must be practicing farmers with verifiable evidence of existing farm investments
Benefits
- No collateral
- Provides capital for farming activities
- Flexible repayment structure
- Low interest rate
- Expert financial advice available
Requirements
- Duly completed application form
- 2 guarantors
- Duly executed Global Standing Instruction
- A valid means of ID (national ID, driver’s license, voter’s card or international passport)
- Current utility bill
- 2 recent passport-size photographs
