The bank of industry loan for agriculture is also known as the Cottage Agro Processing Fund, CAP Fund. This loan was launched in September, 2014 to target limited liability Company, enterprises or cooperative societies that are involved in agriculture, specifically, the conversion of agricultural produce into raw or finished products that can also be exported.

Check out if you qualify for a IPPIS loan here.

The bank of industry is a private banking company that was founded in the year 1959 and is famous for offering loans. It has four subsidiaries namely:

1. Bank of Industry Investment Trust Company.
2. Bank of Industry Microfinance Bank Limited.
3. Bank of Industry Insurance Brokers.
4. LECON financial services.

How to get BOI Loan for Agriculture

1. Check the requirements.
2. Get your documents ready.
3. Register on BOI website.
4. Apply for the loan.
5. Wait for approval.

The Requirements for BOI Agric Loan

To apply for the bank of industry loan for agriculture, you need to know the requirments and check if you qualify for the loan before you start the process. The requirements include

1. A formal application.
2. Photocopy of certificate of registration as issued by the corporate affairs commission.
3. Business plan.
4. 2 passport photograph of business owner.
5. Valid identification card.
6. Bank statement of the business for the last 6 months.
7. Reference letter from a recognized traditional ruler or an authorized local government official.
8. Minimum of 2 external guarantors (check the bank of industry website for eligible guarantors).
9. Declaration of outstanding liabilities to other banks and individuals.
10. Value and source(s) of raw materials to be purchased. This should be expressed in units.
11. Valuation report on existing assets that will be prepared by an accredited BOI valuer.
12. Value of the equipment to be purchased (strictly from an accredited BOI supplier).