Agriculture

Application Open for CBN CACS Loan through FirstBank Agricultural Credit Scheme – Apply Now

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How to Apply for CBN CACS Loan through FirstBank

Application Open for CBN CACS Loan through FirstBank Agricultural Credit Scheme - Apply Now

The Commercial Agriculture Credit Scheme (CACS) is a significant opportunity for businesses in Nigeria’s agricultural sector, offering a total fund of two hundred billion naira. To apply for this loan through FirstBank, follow these steps:

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Commercial Agriculture Credit Scheme (CACS) Overview:

The CACS aims to expedite agricultural sector development in Nigeria. The loan program provides a total fund of N200 billion for eligible applicants, with a reduced interest rate of 9% and funds available from 2021 to 2025.

Features of CACS Loan:

  • Maximum obigor limit for medium and large-scale private businesses is N2 billion.
  • Private sector entities must have at least N50 million worth of farm assets, excluding farmland cost.
  • State Governments have no limit on the maximum obigor.

Benefits Attached:

  • Reduced interest rate of 9%.
  • Availability of funds from 2021 to 2025.

Trending: Federal Government N50,000 Grant Disbursement to Commence Soon as Application Closes – View Shortlisted Candidates Now!

Those Qualified to Apply:

  • Medium and large-scale commercial farms.
  • Limited liability companies in agricultural production, processing, marketing, storage, and business development.
  • State Governments.

Requirements for CACS Loan Application:

  • Formal application for the loan.
  • Article of Association and a Memorandum.
  • Certificate of Incorporation.
  • Business Plan.
  • Board Resolution to Borrow from the scheme.

How to Apply for FirstBank/CBN Commercial Agriculture Credit Scheme (CACS):

  1. Contact the Agric Finance Desk via Email: [email protected].
  2. Fill the online form directly on the official portal: FirstBank Contact Us.

Five Documents You Need to Access the Commercial Agriculture Credit Scheme (CACS) with FirstBank:

  1. Formal application for a credit facility.
  2. Certificate of Incorporation.
  3. Memorandum and Article of Association.
  4. Board Resolution to Borrow.
  5. Feasibility Study/Business Plan.

What Next After You Collate All These Documents?

Visit any FirstBank branch nationwide or email [email protected].

Apply Now: FirstBank CACS Application

READ ALSO: NPower & RHJCP Payment Stipend Backlog Update – 19th December 2023

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One Comment

  1. I’m jamil suraj from kaduna state ikara local government I need all true information about all news updates thanks

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