Everything you need to know about Farmers-Credit
Any farmer in Nigeria who is 18 years or older, owns or operates a farming business, has verifiable farm assets for collateral, and has a valid government-issued ID is eligible to apply for a loan.
You'll need: valid government-issued ID (National ID, voter's card, or passport), proof of farm ownership or lease, bank account details, and information about your farm assets for collateral valuation.
The online application takes about 10-15 minutes to complete. After submission, our team reviews your application within 24-48 hours. Once approved, funds are disbursed within 24 hours.
Our interest rates range from 7% to 18% APR depending on your credit score, loan amount, and collateral value. First-time borrowers typically qualify for 10-15% APR. Visit our Pricing page for full details.
You can borrow from ₦50,000 to ₦10,000,000 depending on your creditworthiness, farm assets, and collateral value. First-time borrowers are typically limited to ₦1,000,000.
Loans can be used for farm expansion, purchasing equipment, seeds, fertilizers, irrigation systems, hiring labor, processing equipment, or any legitimate agricultural business purpose.
Farm assets such as farmland, farm equipment, livestock, harvest produce, or vehicles can be used as collateral. We conduct a free asset valuation to determine the loan amount you qualify for.
Yes! Your collateral is protected through secure digital locks. We use industry-standard security measures including encryption and secure storage. Your assets remain safe as long as you make timely payments.
You can pay through bank transfer, Paystack (debit card, USSD, bank app), or mobile money. Payments can be made via our online portal, mobile app, or at any authorized payment center.
Late payments incur a fee of ₦5,000 or 5% of the payment amount (whichever is higher). Late payments also affect your credit score. We recommend setting up automatic payments to avoid missing due dates.
Yes! You can pay off your loan early without any prepayment penalties. Early repayment can actually improve your credit score and help you qualify for larger loans in the future.