First Bank Commercial Agriculture Credit Loan Scheme – Apply Now

First Bank Commercial Agriculture Credit Loan Scheme – The Commercial Agriculture Credit Scheme is a special credit intervention fund of originally, N200billion created by the Federal Government of Nigeria to fast-track the development of the agricultural sector economy by providing credit facilities to commercial agricultural enterprises at a single-digit interest rate.

The key agricultural commodities covered under the Scheme are:

• Production:
  • Cash Crops: Cotton, Oil Palm, Fruit Trees. Rubber, Sugar Cane, Jatropha Curcas and Cocoa.
  • Food Crops: Rice, Wheat, Cassava, Maize/Soya, Beans/Millet, Tomatoes and Vegetables
  • Poultry: Broilers and Eggs Production
  • Livestock: Meat, Dairy and Piggery
  • Aquaculture: Fingerlings and Catfish
• Processing: Feed-mills Development, Threshing, Pulverisation and other forms of transmutation for value addition.
• Storage: Commodities, Agro-Chemicals and Warehousing.
• Farm Input Supplies: Fertilizers, Seeds/Seedlings, Breeder Stock, Feeds, Farm equipment & Machineries.
• Marketing: Agricultural commodities under the focal investment areas.

READ- CBN-Wema Bank SME Loan Application Form – Apply Now

Features

• Single digit interest rate (9% all-in, max).
• Single obligor limit of up to N2billion for medium and large scale private sector enterprises and N1billion for state governments.
• The participating private sector entity must have a minimum farm asset base of N50million (excluding farm land).
• Irrevocable Standing Payment Order (ISPO) is required in the case of State Governments.
• Fund available till 2025.
• Loan tenor of up to 5 years.

Value Proposition/Gain

• Funding provided at cheap cost.
• Longer tenor of loan.
• Funding targeted to specific agricultural production

READ- How to Apply for 500k Or N3M FirstGem Loan Fund Scheme – Apply Here

Target Market

• Medium or Large Scale Commercial Farms involved in the 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

How to Apply for Commerical Agriculture Credit Loan Scheme by First Bank

To begin, visit    https://www.firstbanknigeria.com/business/agriculture/commercial-agriculture-credit-scheme/#

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