No fewer than 7,250 Micro, Small and Medium Enterprises (MSMEs) and Limited companies operating in Ogun State will access loan facility ranging between N10,000 and N10 million from the Ogun State Agricultural and Multipurpose Credit Agency (OSAMCA) this year. The General Manager, OSAMCA, Olugbenga Abolaji-Israel, made this known while speaking with newsmen in his Office, Oke-Mosan, Abeokuta, stating that all legitimate entrepreneurs especially farmers as well as individuals and co-operative societies whose application is successful can access the credit.
“We have started selling forms for loans this year. Through this loan facility, 5,000 micro businesses will access N100,000 each, 2,000 Small and Medium Enterprises (SMEs) will be able to access up to N1million, 200 businesses will access up to N5million while 50 Limited companies can also access up to N10million,” he said.
The General Manager noted that although the sale of forms would continue throughout the year, all submitted applications would be processed within six weeks.
Abolaji-Israel further disclosed that loan applicants who accessed the facility for agricultural purposes would enjoy a moratorium of three to four months.
He added that the Agency was also assisting farmers by providing farm machineries for sale.
“Also available is the stock of tractors and implement at Agro services Corporation Office, Asero Abeokuta, interested members of the public can visit the location for inspection,” the General Manager said.