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How to Apply for CBN CACS Loan through FirstBank

CBN/FirstBank Commercial Agriculture Credit Scheme (CACS) – This post will guide you on how to apply for CBN CACS loan through FirstBank.

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Are you into the agricultural sector, and wishes to secure an additional support to your business? If ‘yes’, then you need to read through this information, and see if your firm is eligible to benefit from this loan scheme.

Apply for Firstbank/CBN Commercial Agriculture Credit Scheme (CACS)The Commercial Agriculture Credit Scheme (CACS) is a loan scheme established by a dual colaboration of the Central Bank of Nigeria (CBN), and Federal Ministry of Agriculture to support and fast track the improvements/development of the agricultural sector of the country.

This means that anyone who owns a business in the agricultural sector can easily become a beneficiary of the Commercial Agriculture Credit Scheme (CACS) loan, where two hundred billion naira (N200,000,000,000) funds will be disbursed among successful applicants. Also check How to apply for CBN CIFI loan through GTBank.

Features of CACS loan

  • The maximum obigor limit for medium and large scale private businesses is two billion naira (N2,000,000,000) while State Governments has no limit.
  • ¬†Any private sector entity that wishes to participate must have at least a fifty million naira (N50,000,000) worth of farm asset. This should not in anyway have the cost of farm land attached to the base worth.
  • In the case of State Government Irrevocable Standing Payment Order is required.

Benefits Attached

  • A reduced interest rate of nine percent (9%), maximum interest that can be attached to the loans.
  • Availability of funds from the year 2021 to the year 2025.
Also Read:  CBN launches another programme to give N2 billion loan to farmers (See requirements)

Those Qualified to Apply for the loan

  • Both medium and large scale commercial farms that are into livestock rearing, cultivation of crops, fishery etc.
  • Any Limited liability company that is into agricultural production, processing, marketing, storage, and development of businesses.
  • ¬†State Governments.

Requirements for CACS loan application

  1. A formal application for the loan.

  2. Article of Association and a Memorandum.

  3. Certificate of Incorporation.

  4. Business Plan.

  5. Board Resolution to Borrow from the scheme.

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

Applicants are to contact the Agric Finance Desk via Email, or fill the online form directly on the official portal.

The email address is agric@firstbanknigeria.com while the link to the online contact form is https://www.firstbanknigeria.com/contact-us

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13 Comments

13 Comments

  1. Raji Farhiyya

    at

    I need loan too

  2. ABDULAFEEZ OLANIYI YUSUFF

    at

    Good day
    I urgently need a loan of #20,000,000.00 to execute developmental project in my school.
    Thanks

  3. Precious Alamutu

    at

    Please how can I apply?

    • Hadiza dauda muhammad

      at

      I need to loan

      • Muhammed Ibrahim umar

        at

        Muhammed Ibrahim umar

  4. samaila umar

    at

    I need a loan

    • samaila umar

      at

      I need a loan for maize product to enable me to start a small scale business.

      • Musa haro

        at

        I need loan for business farming

  5. Orka nongovkaa Daniel

    at

    I a loan to enable me acquired agriculture products such as yam,rice, cassava, groundnut. I will be happy if my application could be considered

  6. Lawal Muraina Femi

    at

    I need a loan for cassava products

  7. jibin Aminat

    at

    I need the loan

  8. Okonji Ikemefuna Martins

    at

    i need a loan to acquire agriculture sector of cassava and yam produce in a large quantity which will also create employment for skilled and unskilled labour

  9. Umar Abubakar

    at

    I need loan

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