How To Benefit From FirstBank Agric Finance Loan

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How To Benefit From FirstBank Agric Finance Loan

firstbank agric loan

How To Benefit From FirstBank Agric Finance Loan

How To Benefit From FirstBank Agric Finance Loan

FirstBank of Nigeria PLC, one of the leading financial firms in Nigeria is out to boost Agriculture.

Through schemes like

  • commercial Agriculture Credit Scheme ( CACS )
  • Real sector support Facility
  • micro sme development
  • conventional loan terms and over draft

Sugarbeet Field

COMMERCIAL AGRICULTURE CREDIT SCHEME (CACS)

As an agricultural business owner, you can be a beneficiary of the CACS N200 billion Fund.

This facility 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.

Features 

  • Maximum obligor limit is N2 billion for medium and large scale private sector enterprises and N1billion 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.

discover more about Commercial Agriculture Credit Scheme HERE  

Real sector support Facility

 

This Scheme is available to Startups and business owners seeking to expand there agric Enterprise.

This special intervention fund of N300 billion established by the Federal Government through the Central Bank of Nigeria (CBN) is available to assist your business’s financing needs by providing low interest, long-tenured funds.

Features

  • Minimum and maximum single obligor limits are N500m and N10b respectively.
  • The scheme would terminate on December 31, 2030. So, if you qualify for this scheme, don’t hesitate to apply.

Discover more about this scheme HERE NOW 

This scheme is designed for SME’s.

If you own a micro, small or medium agricultural enterprise, this loan facility is a special intervention fund provided by the CBN to support your business.

You get this loan at a low interest cost and enjoy long-tenured repayment structure; to assist your business in enhancing capacity for employment generation, growth and economic development.

Trusted customers of FirstBank seeking to expand their agri-businesses using low priced credit facilities as made possible under the scheme can benefit from this loan.

its features include

  • Maximum obligor limit is N50m.
  • Maximum tenure is 5 years.
  • Management experience of at least 3 years in the enterprise to be funded is required.
  • Interest rate: 9% (all-in), no other fee can be charged.
  • Credit facility is available either as term loan or overdraft.

Conventional Loan Terms And Over Draft

Features

  • Maximum tenor of up to 5 years.
  • Minimum single obligor limit of N10m.
  • Interest rate is the prevailing commercial lending rate.

discover more on this scheme HERE  

MORE ENQUIRIES CAN  BE MADE AT ANY FirstBank BRANCH NEAR YOU.

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