Lapo Agric Loan – Everything you need to know
Focusing on agriculture is essential because it is one of the main cornerstones of the Nigerian economy. Fortunately, Lapo Microfinance Bank’s Lapo Agric Loan product has made it possible for Nigerian farmers to gain more authority. Continue reading to discover more information about this loan product and how to easily apply for it.
Lapo Agric Loan
Table of Contents
An Overview of Lapo Microfinance Bank
A variety of products are available from LAPO Microfinance Bank to fulfill your financial needs. Basically, their products are made to help low-income families and members of micro, small, and medium-sized businesses get the money they require. This institution currently has a sizable network of more than 500 branches throughout Nigeria.
What is Lapo Agric Loan?
The Lapo Agric Financial, sometimes referred to as Lapo agricultural finance, is a loan product that was especially created to help farmers get greater and better outcomes by providing them with sufficient agricultural loans.
How can I apply for the Lapo Agric Loan?
Applying for an agricultural loan from this institution should be done as follows:
- Gather all the paperwork you’ll need for the loan application. A list of the documents you require is provided in the information below.
- Next, go to the local Lapo branch office and ask for the agricultural loan application.
- Subsequently, finish the form by entering your personal information.
Finally, submit the duly completed form along with the required papers. After this process, wait for them to get in touch with you.
What is the maximum and minimum amount of Lapo Agric Loan I can obtain?
In essence, the agric loan provides you with a loan sum ranging from $30,000 to $1,000,000. Consequently, you can get a minimum of N30,000 and a maximum of N100,000.
What is the loan tenor?
Lapo offers you a loan tenure for this loan product that ranges from 1 to 12 months. You also receive a grace period for repayment of 30 to 60 days.
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What are the eligibility criteria?
You must be a working farmer with farm investments in order to apply for an agricultural loan from Lapo. Not that your agricultural investments need to be substantiated.
What documents do I need to obtain the Lapo Agric Loan?
You must the following crucial paperwork in order to apply for an agricultural loan from this institution:
- Complete the application form accurately
- Current passport-size images (2)
- Present utility statement
- Two guarantors
- A legitimate form of identification (you may use a passport, voter’s card, driver’s license, or national ID)
How can I contact Lapo Microfinance Bank?
Getting in touch with Lapo Microfinance Bank is as follows:
Head Office: LAPO Place, 15A Ikorodu-Ososun Road, Lagos State.
Annex Office: 18, Dawson Road, Benin City, Edo State.
Phone Number: +(234) 813 984 0230
WhatsApp: 081 5055 3264
Email Address: info@lapo-nigeria.org
Website: www.Lapo-nigeria.org
Final Thoughts
Lapo Microfinance Bank provides farmers in Nigeria with Lapo Agric Loan as one of its offerings. This is unquestionably a product that farmers in need of urgent loans ought to attempt. To prevent default penalties, make sure you pay back the loan on time or before the deadline.
Do you need a loan? Be sure to visit this loan platform that allows you to compare loans from different lenders in minutes. It offers the best and ensures that you get nothing less.
