BOA - BOA

Developed to encourage Nigerian Youths to key into agriculture and take it as
an investment or as a business

The maximum loan limit under this product is N1 million per beneficiary.
The beneficiaries must be small holders as defined under the Nigeria Incentive Risk Sharing for Agricultural Lending (NIRSAL) guidelines.
To facilitate unhindered access by these target groups, the beneficiaries need not have collaterals but must provide acceptable guarantors.
The loans are accessible by individuals or groups. The individuals in the group can get N1 million each subject to technical determination of scope and financial requirements of the project.
The loans can be access by individuals and groups in line with NIRSAL Credit Risk Guarantee (CRG) and Interest Draw Back Program (IDP).
Loan period, Grace or Moratorium on the products will be determined based on the project type.
NIRSAL provides 75% credit guarantee.
Interest Rate is 12%.