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NIRSAL Agribusiness CRG Loan Application Form 2022

Enudi Golden by Enudi Golden
February 4, 2022
in business, Featured, Headline
Reading Time: 3 mins read
NIRSAL Agribusiness CRG Loan Application Form 2022
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NIRSAL Agribusiness CRG Loan Application Form 2022 can be accessed below.

Do you need a loan to boost your business?, If yes, then NIRSAL Agribusiness Loan Facilitation is the best loan option for you as it is powered by FG CBN, stake advantage of it as we walk through the procedure to apply.

Before we go into details, let’s understand what Agribusiness Loan Facilitation and CRG is all about.

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TABLE OF CONTENT

  • About Agribusiness Loan Facilitation
  • What is CRG?
  • How CRG helps in Agribusiness Loan Facilitation
  • Guideline On How to Apply for NIRSAL Agribusiness Loan Facilitation 2022
  • Requirements for Agribusiness Loan Facilitation

About Agribusiness Loan Facilitation

To scale and expand your agribusiness often requires access to credit. NIRSAL’s Loan Facilitation services help you to structure your agribusiness finance and investment needs, understand your financial requirements and match your agribusiness (supported by NIRSAL’s Credit Risk Guarantee), with the appropriate finance and investment options you require.

What is CRG?

The NIRSAL Credit Risk Guarantee (CRG) is the core service provided by NIRSAL Plc. The CRG is an instrument issued to protect financiers and investors from possible losses in a finance/credit transaction through a risk sharing arrangement under which NIRSAL indemnifies the lender or investor of the Principal and accrued Interest to the limit of a pre-agreed CRG rate. The offer of the NIRSAL CRG serves as a comfort to financiers and investors, encouraging them to lend to the agribusiness.

How CRG helps in Agribusiness Loan Facilitation

The NIRSAL CRG secures agribusiness loans against losses over the life of the underlying credit contract between a financier and actors across all segments of the agricultural value chain. It covers credit in the form of term loans, and/or debt instruments such as short, medium, and long-term notes, excluding overdrafts.

The NIRSAL CRG also covers the credit risk of default on loan principal and the accrued interest. It is purchased at 1% (upfront payment) of the loan value and subsequent outstanding balances of the loan annually.

 

Guideline On How to Apply for NIRSAL Agribusiness Loan Facilitation 2022

STEP 1 – Farmer/Agribusiness applies for a loan from a Commercial Bank and requests for NIRSAL CRG cover.

STEP 2 – Bank approves the loan and sends CRG request and relevant documents to NIRSAL on behalf of the farmer/agribusiness.

STEP 3 – NIRSAL reviews Bank’s request and checks documents for completeness, accuracy and validity.

STEP 4 – If documents are in order, NIRSAL and Bank conduct farm/site visitation and prepare a report which is subjected to NIRSAL’s internal approval process.

STEP 5 – Upon approval by NIRSAL and payment of CRG fee, NIRSAL issues CRG in favour of the Bank on behalf of the farmer/agribusiness.

STEP 6 – Bank disburses the loan to farmer/agribusiness and NIRSAL commences project monitoring through its nationwide Project Monitoring, Reporting & Remediation Offices.

To get more information kindly visit https://nirsal.com/credit-risk-guarantee/

Requirements for Agribusiness Loan Facilitation

  • First name
  • Last name
  • Email address
  • Phone number
  • Gender: Male or Female
  • Home Address
  • Position in company
  • Registered company name
  • CAC Registration number
  • Business Address
  • State of Business Operations
  • Business registration date
  • Segment of business
  • Description of business
  • Years of operation
  • Average Monthly Business Turnover
  • Name of Bank
  • Years of relationship with bank
  • Loan amount required
  • Purpose of loan
  • Collateral description

NIRSAL Agribusiness CRG Loan Application Form 2022

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