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

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Kindly  note that the Online Loan Application is not yet ready for use.
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Customers should go to the nearest BOA Branches for any form of transactions with the bank.

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