CBN /First Bank 2021 Commercial Agriculture Credit Scheme (CACS)

As an agricultural business owner, you can be a beneficiary of the CACS N200 billion Fund. This facility was established by the CBN and Federal Ministry of Agriculture to fast-track the development of the agricultural sector in Nigeria by giving loans support to businesses like yours.

Features

  • The maximum obligor limit is N2 billion for medium and large-scale private sector enterprises while there are no limits for state governments.
  • As a participating private sector entity, you must have a minimum farm asset base of N50million (excluding farmland).
  • Irrevocable Standing Payment Order is required in the case of State Governments.

CBN Commercial Agriculture Credit Scheme (CACS) Benefits

  • Single-digit interest rate (9% all-in, max).
  • This fund is available till 2025.

Who Can Apply for CBN 2021 Commercial Agriculture Credit Scheme

  • Medium or Large Scale Commercial Farms involved in cultivation of crops, rearing of livestock, fisheries, etc.
  • Limited Liability Companies involved in agricultural production, storage, processing, marketing and enterprise development.
  • State Governments and the FCT (for on-lending/special intervention to small-scale farmers).

Required Documents

  • Formal application for a credit facility.
  • Certificate of Incorporation.
  • Memorandum and Article of Association.
  • Board Resolution to Borrow.
  • Feasibility Study/Business Plan.

To apply for any of our facilities contact the Agric Finance Desk through Email on: [email protected]

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FREQUENT ASKED QUESTION (FAQ)

 What is the scheme about?

  • Special credit intervention fund of N200billion created by the Federal Government of Nigeria through the CBN to fast track the development of the agricultural sector.

2) Who Can Participate?

  • Medium or Large Scale Commercial Farms involved in cultivation of crops, rearing of livestock, fisheries, etc.
  • Limited Liability companies involved in the entire value chain of agricultural production, storage, processing, marketing and enterprise development.
  • State Governments and the FCT (for on-lending).

3) What is the interest rate?

4) How do I qualify for this facility?

  • Your project should not be a start-up.
  • For private entities, you must have minimum asset base of N50million (excluding land).
  • For State Government, Irrevocable Standing Payment Order (ISPO)is required.

5) What are the required documentation?

  • Formal application for a credit Facility.
  • Certificate of Incorporation.
  • Memorandum and Article of Association.
  • Board Resolution to Borrow.
  • Feasibility Study/Business Plan.
  • For State Government, list and addresses of co-operatives and farms should be included.

Other documentations are requested after project visit.

6) Can a business name apply?

  • You have to be a registered incorporated company having a management structure with minimum experience of 3years.

7) Can I apply at any branch? 

  • Yes, you can walk in to the nearest FBN branch to apply.

8) How soon can I get my loan approved? 

  • This depends on different variables like; your business plan, cash flow, swift provision of accurate documentations and adequate collateral.

9) How soon can I get the facility after approval?

  • This depends on duration of receipt of funds from CBN after due diligence.

10) Can I get a longer tenor for my facility?

  • Tenor is not fixed, it however depends on cash flow projections.

For more Info : Visit the websiste

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