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

How to Apply for CBN CACS Loan through FirstBank

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:

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.

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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

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