Commercial Agriculture Credit Scheme: CBN/First Bank Offer N200B-Apply
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Commercial Agriculture Credit Scheme: CBN/First Bank Offer N200B-Apply: Aimed at providing and supporting Commercial Agriculture towards sustainable food production and security in the country, the Commercial Agriculture Credit Scheme in collaboration with the Central Bank of Nigeria and First Bank has issues N200B to Nigerians
Established by the CBN and Federal Ministry of Agriculture Commercial Agriculture Credit Scheme has fast track the development of the agricultural sector in Nigeria by giving loans support to businesses like yours
Features of the Commercial Agriculture Credit Scheme
- Maximum obligor limit is N2 billion for medium and large scale private sector enterprises No limits for state governments.
- As a participating private sector entity, you must have a minimum farm asset base of N50million (excluding farm land).
- Irrevocable Standing Payment Order is required in the case of State Governments.
Benefits of Commercial Agriculture Credit Scheme
Single digit interest rate (9% all-in, max).
This fund is available till 2025.
Commercial Agriculture Credit Scheme Who Can Apply
Limited Liability Companies involved in agricultural production, storage, processing, marketing and enterprise development.
Medium or Large Scale Commercial Farms involved in cultivation of crops, rearing of livestock, fisheries, etc.
State Governments and the FCT (for on-lending/special intervention to small scale farmers).
Required Documents for Commercial Agriculture Credit Scheme
Memorandum and Article of Association.
Board Resolution to Borrow.
Feasibility Study/Business Plan.
Formal application for a credit Facility.
Certificate of Incorporation.
How To Apply for Commercial Agriculture Credit Scheme
To apply for any of our facilities contact the Agric Finance Desk through Email on: agric@firstbanknigeria.com or click here to apply online.
Get more information on Commercial Agriculture Credit Scheme https://www.firstbanknigeria.com/business-banking/agricultural-financing/