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:
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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.
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):
- Contact the Agric Finance Desk via Email: [email protected].
- 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:
- Formal application for a credit facility.
- Certificate of Incorporation.
- Memorandum and Article of Association.
- Board Resolution to Borrow.
- 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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