Apply For 2022 Nirsal Credit Risks Farmers And AgriBusiness Loan.
Nirsal Credit Risks Farmers/AgriBusiness Loan – The NIRSAL Credit Risk Guarantee (CRG) is the core service provided by NIRSAL Plc.
The CRG is an instrument issued to protect financiers and investors from possible losses in a finance/credit transaction through a risk sharing arrangement under which NIRSAL indemnifies the lender or investor of the Principal and accrued Interest to the limit of a pre-agreed CRG rate. The offer of the NIRSAL CRG serves as a comfort to financiers and investors, encouraging them to lend to the agribusiness.
The NIRSAL CRG secures agribusiness loans against losses over the life of the underlying credit contract between a financier and actors across all segments of the agricultural value chain. It covers credit in the form of term loans, and/or debt instruments such as short, medium, and long-term notes, excluding overdrafts.
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The NIRSAL CRG also covers the credit risk of default on loan principal and the accrued interest. It is purchased at 1% (upfront payment) of the loan value and subsequent outstanding balances of the loan annually.
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CRG REQUEST & ISSUANCE PROCESS.
- Farmer/Agribusiness applies for a loan from a Commercial Bank and requests for NIRSAL CRG cover.
- Bank approves the loan and sends CRG request and relevant documents to NIRSAL on behalf of the farmer/agribusiness.
- NIRSAL reviews Bank’s request and checks documents for completeness, accuracy and validity.
- If documents are in order, NIRSAL and Bank conduct farm/site visitation and prepare a report which is subjected to NIRSAL’s internal approval process.
- Upon approval by NIRSAL and payment of CRG fee, NIRSAL issues CRG in favour of the Bank on behalf of the farmer/agribusiness.
- Bank disburses the loan to farmer/agribusiness and NIRSAL commences project monitoring through its nationwide Project Monitoring, Reporting & Remediation Offices.
How to Apply:
Interested should Click on the link below to Read More & Apply.