FUNDING FOR FISH
FARMING BY BANK OF INDUSTRY
Are you an existing fish farmer or into processing of fish?
Are you aware of BOI fish farming and processing funds?
I want to draw your attention to this opportunity to get
loan to expand your fish farm.
Kindly note that it is for existing farmers and processing
businesses that has a registered business name.
The objectives for the funds are as follows:
(i)
Promotion of fish farming in Nigeria in order to
meet the huge supply gap that is currently being met by importation.
(ii)
Reduction of post-harvest losses by farmers
through processing.
(iii)
Promotion of Foreign exchange savings by
increasing domestic fish production.
(iv)
Employment generation along the Fish value
chain.
(v)
Provision of the fishery sub-sector with a
source of long term funding at reasonable cost, thereby increasing its
competitiveness.
The fund will be accessed by Limited Liability companies and
enterprises engaged in fish farming and/or processing clusters.
|
PROGRAM LIMIT
|
N 1 BILLION
|
|
|
MAXIMUM OBLIGOR LIMIT
|
Up to N50 Million
|
|
|
PRICING
|
Interest Rate 9% per annum
|
|
|
|
Fees 1% Processing fee
|
|
|
TENOR
|
3-5 years
|
|
|
MORATORIUM
COLLATERAL/ SUPPORT
|
6-12 Months (From date of Loan disbursement)
Loan Amount (N’M)
5.0-10.0
>10.0 ≤ 20.0
>20.0
|
Security arrangement
(i)
Specific charge over the equipment financed.
(ii)
Irrevocable Personal Guarantee of the chief promoter
of the company.
(iii)
Post-dated cheques of the company or chief
promoter, issued in line with the amortization schedule.
(iv)
Two (2) external guarantors acceptable to BOI,
who must belong to the following categories:
(a)
Senior civil servant (Level 12 and above).
(b)
Bankers (Not below of the level of assistant
manager) and must have been confirmed by current employer.
(c)
Professionals such as Medical Doctors,
Lawyers, Accountants, Engineers etc.
(d)
Senior staff (not less than a manager) of
reputable quoted companies, telecommunication companies (GSM providers).
(e)
The Guarantees must be supported with a
Notarized statement of Net worth acceptable to BOI.
(I)
All assets debentures
(II)
Irrevocable personal Guarantee of the Chief
promoter of the company.
(III)
One external Guarantor acceptable to BOI who
must belong to any of the following categories:
(a) Senior
Civil servants (Level 12 & above)
(b) Bankers
(Not below the level of assistant manager) and must have been confirmed by
current employer.
(c) Senior
staff (not less than a manager) of reputable quoted companies, international
oil companies, Telecommunication companies (GSM Providers)
(d) The
Guarantees must be supported with a Notarized statement of Networth
acceptable to BOI.
OR
(i)
Bank Guarantee from commercial banks acceptable
to BOI.
(ii)
All asset debentures
(iii)
Legal mortgage on pledged property.
(iv)
Irrevocable personal guarantee of the chief
promoter of the company.
OR
Bank Guarantee from commercial banks acceptable to BOI.
|
|
FUNDING STRUCTURE
|
|
(I)
Loan-
90% maximum (Inclusive of working capital from BOI or SME friendly
banks)
(II)
Contribution by the promoter- 10% (minimum).
(III)
The estimated values of the existing fish pond
structures and/or relevant processing equipment may be applied against the
borrower’s 10% contribution. The Items must be valued professionally by any
of the BOI’s accredited valuers.
Term loan:
In accordance
with agreed milestones and shall be backed by provision of performance bonds
or advance payment bond by the equipment supplier, or where an advance
payment is demanded.
|
|
DISBURSEMENT
|
|
Working Capital
After successful installation and testing of the equipment and
payment shall be made directly to raw material suppliers.
|
|
REPAYMENT SOURCE
|
|
From cash flows generated by the customer’s operations.
|
|
REPAYMENT MODE
|
|
Monthly payment of Interest and Principal.
|
For further Information, kindly visit the Bank of Industry’s
website or walk into any of the offices of the BOI.
Do you need a
Business plan to raise funds for your Agribusiness? We can help you develop a
strategic business plan that will assist you in securing a loan from a
financial institution or equity from an investor.
Kindly, put a call
across to us, 07032731919
Email us: dephoenixgenerale@gmail.com
Visit our
office: Dephoenix Generale, c/o Francis
Philips & Co, East Pavilion, Wing B, 2nd Floor, Entrance 1,
Tafawa Balewa Square (TBS), Lagos, Nigeria.
Follow our updates on
facebook by LIKING our Facebook page: Dephoenix Generale Agro
DEPHOENIX
GENERALE…….Redefining the norm of Nigerian agriculture!
