Apply for Agric Loan from Sterling bank in partnership with Mastercard Foundation in Nigeria
Apply for Agric Loan from Sterling bank in partnership with Mastercard Foundation in Nigeria
GOOD NEWS FOR EVERYONE IN THE AGRIC SPACE
Sterling bank, in partnership with Mastercard Foundation is launching a single digit loan aimed at improving access to finance for those in the Agric Space. Access up to N20million for your business to acquire raw materials, buy equipment.
Loan Limit
- Anchor companies: NGN250million
- Cooperative groups: NGN25million
- SMEs: NGN20million
- Individual/Startup: NGN5Million
- Smallholders: NGN250,000
Pricing
- 9% interest rate per annum (ie approximately 0.75% per month);
- 2% fees (no hidden charges)
- Insurance – 2.5%-3.5% per annum depending on livestock or crop.
Maximum Tenor:
2 years
Eligibility
- Open an account with the bank with a minimum of N1,000. Individuals/Startups can open personal accounts if you are yet to register your business. Click here to open an account with Sterling bank on the go – https://sterlingonlineaccount.sterling.ng/#/
Or download ‘One Bank’ app and open on it as well.
- Must be a player in the Agribusiness value chain
- 70% Women; 30% Men
- Startup businesses/Individuals to access up to N5million
- Minimum of 20 farmers per group and maximum of 1,000 farmers for cooperatives & anchor companies.
- Registered Anchor Company/cooperatives (Must have been in existence for more than 1 year).
- Businesses registered under CAMA (Minimum of at least 6 months from date of incorporation) for SMEs.
Apply for Agric Loan from Sterling bank in partnership with Mastercard Foundation in Nigeria
Collateral
Individual/Cooperative
- Contribution of minimum of 5% of approved amount as Cash Collateral by Farmer and associations.
- Off-taker agreement between farmers and off-takers.
- Agric Insurance
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SMEs
- Contribution of minimum of 10% of approved amount as Cash Collateral.
- Agric Insurance cover
Anchor Company
- Contribution of minimum of 5% of approved amount as Cash Collateral.
- Domiciliation of sales proceed.
- Off-taker contracts from buyers
- Agric Insurance cover
The platform is yet to be launched, but because you are a part of this group, you will be among the first people to access the facility as well as provide feedback in your experience, please click the link below to sign up.
https://sterling.ng/swayagfin/
If you have any issues or encounter any challenge, please send a mail to Agric&finance@sterling.ng
All the best.
Read also: How to Apply for N10million CBN AGSMEIS loan Today
As a leading business development service provider in Nigeria, Dayo Adetiloye Business Hub has been recognized and certified by Small and Medium Enterprise Development Agency of Nigeria (SMEDAN) in Conjunction with Enterprise Development Centre (EDC), Pan-Atlantic University (PAU) of the Lagos Business School (LBS).
Our solutions are designed for MSMEs and are supported by deep insight into various industries and extensive experience acquired from over the years by supporting our clients as partners in their business transformation.
Through our services and business activities, we help individuals/entrepreneurs transform their business ideas into a business venture, and support existing business to scale or expand their operation. We also connect startups and MSMEs with opportunities and resources for their business growth.
We have Consulted for more than 5000 MSMEs in the last 6 years in various industry including Agro-processing, Consulting, Training and Education, Financial Services, Waste Management, Renewable Energy, Oil and Gas, Construction, Real Estate, FMCG, Digital Marketing, Personal Branding etc.
Our Vision:
To become the leading grassroot business Hub that provides Business
Development Services in the global online community
Mission Statement:
- Provide bespoke management and business planning consultancy
- To connect MSMEs with opportunities and resources for their business startup, growth and expansion through trainings, seminars, coaching, consulting, mentoring, and Angel investing.
- To inspire, empower and champion entrepreneurship in the global online community.
Business Goals and Objective
- Engender national prosperity by contributing to the creation of at least 100 new businesses every year
- Become a go-to brand for outstanding business development services for MSMEs
- Strategic partnership with local and international organization to empower start-ups
- Continuous innovation to serve our clients better
Core Values:
Integrity
Opportunity Maximization
Digitalization
Personal Development (Capacity Building)
Excellent Customer Satisfaction
Timeliness
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