OpenLoan/BlendedNigeria
Agricultural Credit Guarantee Scheme Fund (ACGSF)
Central Bank of Nigeria (CBN) and Federal Government of Nigeria
- Amount or benefit
- Guarantees 75% of the net amount in default on qualifying agricultural loans; 40% interest reimbursement for borrowers who repay on time
- Deadline
- RollingApplications go through the lending bank, which must submit to CBN within 30 days
- Who can apply
- Smallholder farmers, medium-scale farmers and agro-processors across the agricultural value chain who borrow from a participating deposit money bank or CBN-regulated microfinance bank. The beneficiary completes the ACGS form and the lending bank forwards it to the CBN.
- Location rule
- Nigeria only
- Applicant type
- Individual, Business
- Stage
- Any
- Sectors
- Agriculture & foodBusiness & entrepreneurship
- Notes
- A loan guarantee, not cash to the farmer: you apply for a bank loan and the bank seeks the guarantee. Enterprises must be mapped/tagged at the customer's cost.