Based on the information reaching us directly from the Federal Government SEIFAC Loan update status, the SEIFAC loan which had been long delayed will soon be paid.
All applicants have been worrying as to when the loan payment will be made so that they put it to use, this article will enlighten on the next step in the loan procedures.
As mentioned by the Federal Government, the SEIFAC Loan disbursement will begin in 3 weeks’ time meaning that the SEIFAC Loan will be disbursed to successful applicants soon.
The SEIFAC has also posted to all applicants that the anchor borrowers programme has commenced and it is collecting data for the 2022 wet cropping season which is meant for all Smallholder Farmers and Cooperatives across the country.
This programme is for farmers to farm in Agricultural Production Clusters (Agro-PCs) which is a farming model created with the aim of addressing the challenges that Smallholders Farmers faced when farming individually at small scale production.
What is SEIFAC Loan?
SEIFAC full meaning being Smallholder Economic Interest Farmers Agricultural Cooperative – is a cooperative of Smallholder Farmers created by Smallholder Farmers for Smallholder Farmers of Nigeria and powered by the FG.
Important: The SEIFAC loan ATM cards are now out for collections, all SEIFAC loan applicant can now collect their ATM cards.
The SEIFAC loan is open to all small-scale farmers that want to boost their farming production with the help of loans. The application is online for free, meaning any eligible farmer can apply for free online.
SEIFAC Loan Update for Disbursement
Below is the list of the SEIFAC loan update made from the SEIFAC to all applicants:
The disbursement of funds to members will kick off three weeks from now after proper investigations and monitoring of members’ accounts.
Applicants are expected to visit their respective banks for account upgrades, as some members may fail to receive their funds due to the inability of their accounts to receive a huge amount of money.
The management will also provide machines and fertilizers to help fasten the farming conclusion, all members have three weeks from today to regularize numbers of the hectare requested, fill and submit all forms, and payment of dues.
However, members are entitled to farm on three crops which include; maize, cassava, and rice.
After weeks, members should expect their funds in their respective wallets for their Agricultural business.
Should you need more information on the SEIFAC loan update, you can take a look at their official website by clicking here.