Bank of Agriculture Loan Application Checklist

Securing a loan for a farm business with the Bank of Agriculture is an achievable goal when you prepare thoughtfully. Great success rests on three pillars: a realistic production and market plan, secure land access (ideally backed by a clear lease or title), and demonstrable repayment capacity on the part of the borrower. Below is the checklist to secure a loan from bank of agriculture, especially in the area of crop farming and livestock projects.

1. Applicant Identification & Eligibility

Ensure all personal or organisational details are accurate and verifiable.

• Valid means of identification (National ID, Voter’s Card, Driver’s Licence, or International Passport)

• Recent passport photograph

• Bank Verification Number (BVN)

• Evidence of Nigerian citizenship or registered Nigerian entity

• Completed BOA loan application form

2. Business Structure & Registration

BOA gives preference to properly structured farming ventures.

• CAC registration documents (Business Name or Limited Liability Company), where applicable

• Cooperative registration certificate (for farmer groups or associations)

• Constitution or by-laws (for cooperatives)

• Tax Identification Number (TIN), if available

3. Farm Project Proposal (Core Requirement)

Your proposal should clearly explain what you farm, how you farm, and how you will repay.

• Executive summary of the farm project

• Type of farming activity (crop, livestock, poultry, aquaculture, or mixed farming)

• Farm size and production capacity

• Location of the farm (state, LGA, and community)

• Farming cycle and duration (planting to harvest or production cycle)

• Detailed cost breakdown (inputs, labour, equipment, logistics)

• Revenue projections and expected cash flow

• Loan amount requested and proposed repayment plan

4. Land Ownership or Farm Access Documents

BOA requires proof that you have legal access to the farmland.

• Certificate of Occupancy (C of O), Deed of Assignment, or customary land allocation letter

• Farm Lease Agreement where land is leased (strongly recommended)

• Evidence of land inspection or site verification (where applicable)

A properly drafted farm lease agreement helps demonstrate stability, tenure security, and seriousness of the project.

5. Crop or Livestock-Specific Supporting Documents

For Crop Farming:

• Crop plan and planting schedule

• Seed or seedling source confirmation

• Fertiliser and agro-input estimates

• Irrigation or water access plan (if applicable)

For Livestock Projects:

• Livestock breed details and stocking plan

• Housing and biosecurity plan

• Feed sourcing strategy

• Veterinary care and disease management plan

6. Financial Capacity & Banking Records

These documents help BOA assess financial discipline and risk.

• Bank account statement (usually 6 months, if available)

• Evidence of prior farming income or agribusiness transactions

• Existing loan obligations, if any (full disclosure is critical)

7. Collateral or Security (Where Required)

Depending on the loan scheme, BOA may request security.

• Acceptable collateral documents (land, equipment, or guarantor)

• Guarantor’s valid ID and consent letter (if applicable)

• Insurance cover (where required by the loan scheme)

8. Risk Mitigation & Compliance

Show that you understand farming risks and have mitigation measures.

• Basic risk assessment (weather, pests, disease, market volatility)

• Insurance plans (NAIC or other agricultural insurance schemes)

• Compliance with local agricultural regulations or extension guidelines

9. Supporting Declarations & Undertakings

Final confirmations before submission.

• Signed loan undertaking

• Consent for credit checks and field verification

• Commitment to monitoring and reporting requirements