DEPHOENIX GENERALE AGRO

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, 2^nd Floor, Entrance 1, Tafawa Balewa Square (TBS), Lagos, Nigeria.

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