Features

  • Access to term loans for agricultural purposes such as cultivation of crops, animal husbandry, processing of agricultural produce (with at least 50% of farm output), purchase of farm machinery, and hire services
  • Maximum tenor of 2 years
  • Obligor limit of N1-10m
  • Interest drawback of 40% on loans repaid as and when due
  • Loan is not availed to Agro-traders and start-up businesses

Benefits

  • Discounted rate of 22% per annum
  • Flexible repayment period (weekly, monthly or quarterly)
  • Allowable moratorium period depending on business cash flows and/or gestation period of the project
  • Interest drawback of 40% on loans repaid as and when due

Requirements

  • Business must have been operational for a minimum of 2years or 2 production cycles
  • Must have a minimum of 3 months banking relationship with Diamond Bank
  • Tangible collateral in line with existing banks policy plus 25% cash collateral
  • All live components on the farm and other pledged assets must be insured

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