Exciting Opportunity for GSU Staff: "Operation Feed Yourself" Agricultural Loan
Exciting Opportunity for GSU Staff: "Operation Feed Yourself" Agricultural Loan
UmarFarouk123 
In a bid to empower its staff in the realm of agriculture, Gombe State University announces a groundbreaking opportunity for its employees through the "Operation Feed Yourself" agricultural loan program.
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The initiative, facilitated by the Bank of Agriculture, aims to provide funding and support for those interested in venturing into agricultural production.
Eligibility Criteria:
Individuals, cooperatives/associations, informal groups, or clusters are eligible.
Satisfactory Credit Bureau Checks are mandatory.
No outstanding credit obligations with any Financial Institution.
Confirmed staff members with no outstanding credit obligations.
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Employees with one year or less to retirement are not eligible.
Salary domiciliation with BOA or monthly deduction at source required.
Opening a Savings Account at the Branch with $2,000.00 is necessary.
Minimum deposit of N5,000.00 as account balance.
Submission of the most recent three (3) months' pay slips.
Employees with States and Local Governments having salary arrears of two (2) months are not eligible.
Collateral Requirements:
One Guarantor.
Salary domiciliation with BOA or an Irrevocable Standing Payment Order (ISPO) undertaking.
An undertaking by the Employer to pay salary or remit monthly deduction to BOA.
Loan Details:
Facility Type: Short Term
Loan Purpose: Agricultural production of all types
Obligor Limit: 33% of Net Salary PA of the loan applicant
Tenor: Maximum of 24 months
Repayment Structure: Monthly instalments
Interest Rate: 14% PA
Appraisal Fee: 0.5%
Repayment Source: From salary
Interested staff members are encouraged to seize this opportunity for financial growth and agricultural development. Applications can be submitted in accordance with the outlined criteria. Don't miss out on the chance to participate in "Operation Feed Yourself" and contribute to the agricultural landscape.
Thank you.
Atika Muhammad Magaji
For: Registrar
Gombe State University
