"Real Sector Support Facility” (RSSF) is designed by the CBN to improve access to affordable finance to Agricultural, Manufacturing and other related sectors that are employment and growth stimulating to the economy. Deposit Money Banks will utilize their Cash Reserve Requirement (CRR) Fund deposited at CBN for this scheme.
Maximum of N10bn
Tenor: Maximum of 15 years
Term loan and Overdraft (OD for 1 year only, however renewable).
Insurance compulsory for all live components and other assets on farm
Maximum interest rate of 9%
Working capital finance
Moratorium allowed depending on cash flow/transaction dynamics
Up to 15 years loan repayment period
Business must have been operational for a minimum of 2years or 2 production cycles
Minimum of 3 months banking relationship with Diamond Bank
Tangible collateral in line with existing banks policy