We will be addressing the SEIFAC Loan Application and providing information on whether or not the SEIFAC application is still being accepted for the year 2023/2024 in today’s SEIFAC Latest News.
SEIFAC stands for Smallholder Economic Interest Farmers Agricultural Cooperative. It is a group of small-scale farmers in Nigeria who work together to help other small-scale farmers.
The SEIFAC/CBN Anchor Borrowers Programme has started gathering data for the year 2022/23.
Wet Cropping Season for all Smallholder Farmers and Cooperatives across the Nation to farm in Agricultural Production Clusters (Agro-PCs), a model of cluster farming that is meant to help Smallholder Farmers deal with the problems they face when they farm on a small scale individually.
Seifac Loan Grant Application – How it works
Step 1: Profile creation
Up to the age of 18, you can make a profile to become a member of SEIFAC and be eligible for the SEIFAC/CBN Anchor Borrower Program and other SEIFAC programs and services. Lets Do Agriculture As Business.
Step 2: Registration
To sign up, you must be at least 18 years old and interested in farming one of our enterprise crops through our cluster farming model, Agro-PC (Agricultural Production Cluster). Start the SEIFAC Smallholder Farms Membership Registration by giving us information about yourself.
Step 3: Application
Sign in to your SEIFAC Profile and apply for the SEIFAC/CBN ABP for the 2022/2023 Wet Cropping Season. Choose your preferred crop production business based on how well the soil works in your area and what you’re good at.
Step 4: Project account
You have to open your SEIFAC Project Account with our Official Bankers. You’ll find out who they are through the email address you give us and the news menu on our website.
Registration for SEIFAC Loan Application Updates
Register Your Email for SEIFAC Loan Grant
To get notify immediately register your email.
Steps to Register
- First, enter your email id in the following text box
- Click on the “Register” button
- Log in to your email and verify your free subscription.
SEIFAC TERMS AND CONDITIONS
IMPORTANT: Review these terms and conditions thoroughly before using this website. By accessing or using our services, you confirm your agreement to these terms. These conditions are applicable to SEIFAC members, visitors, users, and all who interact with our service.
- You must create a SEIFAC project account at one of our designated banks.
- By joining, you commit to participating in our Agricultural Production Group (Agro-PC).
- SEIFAC will secure an insurance policy for the farm allocated to you.
- Understand that SEIFAC/CBN ABP Single Number Interest Rate Loan (SDI) isn’t physical cash, but a specific type.
- SEIFAC, alongside your Agro-PC and its service providers, will oversee production and management activities ranging from land preparation, cultivation, production, to the final harvest.
- You should oversee and understand the activities on your allocated land for transparency. However, this doesn’t apply if you’re engaged in another task during a given period.
- Agricultural equipment must be used in your Agro-PC branch. Note: SEIFAC won’t cover disbursements due to CBN/Inheritance reasons.
- An Agro-PC Manager, appointed by Agro-PC and SEIFAC, will manage your farm.
- You won’t claim ownership or harvest produce from the allocated area until your loan is completely paid.
- Your SEIFAC/Agro-PC is responsible for marketing the produce, repaying the loan, and crediting any profits to your project account.
- An annual fee of N5,000 is required for Agro-PC, which supports the next farming season.
- A one-time fee of N7,500 is due initially, followed by an annual fee of N2,500.
- You must maintain an account (savings or current) with the upcoming SEIFAC Microfinance Bank (SEIFAC-MFB).
- Update your SEIFAC-MFB account as needed to support SEIFAC’s growth and SEIFAC-MFB, where you hold a stake.
- Commit to SEIFAC’s goals and adhere to the Cooperative Goodbye Law.
- Safeguard any sensitive cooperative information in your possession.
- Use SEIFAC assets responsibly and avoid mismanagement.
- Remain loyal to your primary Agro-PC and SEIFAC.
- Any illegal activity by you or a close associate that breaches SEIFAC or Agro-PC rules will make you liable.
- 20% of your profit will be reserved in your SEIFAC account each season as pension contributions. You can claim this after retirement at age 70 or after 15 seasons.
- Retiring before 15 seasons allows you to claim your pension fund immediately.
- Provide SEIFAC with a six-month notice for voluntary retirement, or face a 10% deduction from your pension fund.
- In the event of your demise, the pension fund will be handed over to your immediate family within 10 days upon receiving proof of death.
- Enroll in SEIFAC’s Health Insurance-HMO policy, SEIFAC Farmers Health Care System (SEIFAC-FHCS), with an annual fee of N6,000 due each harvest.
- Only you, your spouse, and two children below 18 years are eligible for the SEIFAC-FHCS health insurance benefits.
- Those registered under SEIFAC-FHCS will receive treatment accordingly