Commercial Agriculture Credit Scheme 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.
About the organization: kindly see https://www.firstbanknigeria.com/business-banking/agricultural-financing/
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 farm land).
Irrevocable Standing Payment Order is required in the case of State Governments.
- Single digit interest rate (9% all-in, max).
- This fund is available till 2025.
Commercial Agriculture Credit Scheme Who Can Apply
- 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).
- Formal application for a credit Facility.
- Certificate of Incorporation.
- Memorandum and Article of Association.
- Board Resolution to Borrow.
- Feasibility Study/Business Plan.
How To Apply:
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