SWAY AgFin Loan Application (Easily get up to 20 million naira loan for your Business) in Partnership with Mastercard Foundation
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Applications are now open for SWAY AgFin
Loan Application
Deadline: Ongoing
SWAY
AgFin is a specially designed single digit interest fund open to youth and
women interested in agribusiness.
Developed and distributed in partnership with Mastercard
Foundation, SWAY AgFin will help increase the output and profitability of your
agribusiness by making much needed capital available to entrepreneurs like you;
just starting out or looking to expand.
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.
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
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
How to Apply
To apply, click
here
Note: If you have any issues or encounter any challenge, please send a mail
to Agric&finance@sterling.ng
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