Direct Credit Product

(Small and Medium Enterprises): Developed to finance agricultural productions and agro-allied activities
  • Loan volume ranges from above N250,000.00 to a maximum of N50,000.000.00
  • Limit of N5,000.000.00 to individual persons.
  • Above N5,000.000.00 to corporate organisations.
  • Loan tenor not existing 5 years
  • Disbursement both cash and kind.
  • For both individuals and cooperate bodies.
  • Staggered disbursement
  • Backed up with viable, profitable and bankable business proposal
  • Agro-business must be a clause in the Memart of the company for corporate applicants.
  • Security acceptable to the BOA required
  • Interest rate 14% for agricultural production and agro-processing while commodity marketing is 20%
  • Current tax clearance certificate required
  • Last 3 years audited statement of account or statement of affairs required.
  • Consent to mortgage of the landed property being pledged as security for the loan required

View More Services

Want to know More?

Feel free to subscribe to BOA newsletter for monthly updates, best practices and latest news

Disclaimer

Kindly  note that the Online Loan Application is not yet ready for use.
Customers or Users will be appropriately notified once the E-commerce/Banking portals are ready for use.
Customers should go to the nearest BOA Branches for any form of transactions with the bank.

Please beware of impostors.