Features

• 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.

Benefits

• 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