Agriculture is the mainstay of any economy and is fundamental to the socio-economic development of any nation. This is why LAPO MfB 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.
In 2016, LAPO MfB won the Best Microfinance Bank in Agricultural Financing under the Agricultural Credit Guarantee Scheme for the year 2015 by Central Bank of Nigeria (CBN).
For more information about Agric Loan, kindly contact us on: 0700-LAPOMFB (07005276643) or 07051483208.
- 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.
- No collateral
- Provides capital for farming activities
- Flexible repayment structure
- Low interest rates
- Expert financial advice available
- Duly completed application form
- 2 guarantors
- 2 recent passport-size photographs
- Current utility bill
- A valid means of ID (national ID, driver's license, voter's card, international passport)
1. Q: Where can I access this Agric Loan?
A: Currently, you can access Agric Loan only in Ogun, Oyo, Edo, Rivers, Benue, Osun, Ondo, Kogi and Delta State.
2. Q: Can I access Asset loan along Agric Loan?