Unity Farmers Cooperative Leasing Scheme
- Targeted at farmers’ cooperative societies/ farmers groups to meet their financial needs
- Product scope coverage include Farm machinery and power such as Irrigation pumps, sprayers, implements etc.
- Maintenance of 30% in savings account to serve as collateral support
- Counter guarantee of members of the Cooperative Societies (Joint and several liability of members).
- Cooperatives must be at least 6 months old of being registered with Registrar of Cooperatives.
- Lien or bills of purchase on the equipment being financed.
- 75% CBN Guarantee on net amount in default.
- NAIC Insurance cover on the approved amount.
- Eligible only on current account.
- Customer can benefit up to three times the amount saved as cash collateral.
- Facility tenor ranges between 12 and 24 months.
- Free Professional advice from Agribusiness for both internal and external customers.# CBN guarantee with 40% interest rebate under the interest drawback scheme