The Commercial Agriculture Credit Scheme which is known as CACS for short is a program initiated by the Central Bank of Nigeria (CBN) and the Federal Ministry of Agriculture. The program set aside a N200 billion naira fund which will be used to develop the Nigerian agricultural sector by issuing out loans for various agricultural purposes.

Characteristics Of the Loan

  1. Both medium and large-scale private sector enterprises can access up to N2 billion (maximum) while the state governments actually have no limits.
  2. Participating private sectors are required to have at least an N50million farm asset base (excluding farmland).
  3. Irrevocable Standing Payment Order is needed in the case of the State Governments.

Federal Ministry of Agriculture/ CBN Commercial Agriculture Credit Scheme

  • Loan Type: Entrepreneurs.
  • Gender: Both for Male and Female.
  • Country to study: Only for Nigerians.
  • Organization: CBN (Central Bank of Nigeria).
  • Deadline Of Application: Not Specified.

READ ALSO: Government Funding Programs for Businesses and How to Apply.

Benefits and Aims of Federal Ministry of Agriculture/ CBN Commercial Agriculture Credit Scheme

  1. The fund remains available till 2025.
  2. Single digit interest rate (9% all-in, max).

Requirements for Federal Ministry of Agriculture/ CBN Commercial Agriculture Credit Scheme Qualification

  1. Large or Medium-Scale Commercial Farms involved in the rearing of livestock, cultivation of crops, fisheries, etc.
  2. Limited Liability Companies involved in agricultural storage, production, processing, marketing as well as enterprise development.
  3. The FCT and State Governments (for on-lending/special intervention to small-scale farmers).

Required Documents for Application

  1. Certificate of Incorporation.
  2. Formal application for a Credit Facility.
  3. Article of Association and Memorandum.
  4. Feasibility Study/Business Plan.
  5. Board Resolution to Borrow.

Deadline For Application

Not Specified

How Do I Apply?

Qualified and interested applicants should navigate to the Central Bank of Nigeria (CBN) on www.firstbanknigeria.com to apply.

Or you can visit the programme website for more details about the loan.

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