First Bank Commercial Agriculture Credit Loan Scheme – Apply Now
First Bank of Nigeria Limited
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:
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.
1 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.
2 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.
3 Fund available till 2025.
4 Loan tenor of up to 5 years.
5 Funding provided at cheap cost.
Longer tenor of loan.
6 Funding targeted to specific agricultural production.
* Medium or Large Scale Commercial Farms involved in the cultivation of crops, rearing of livestock, fisheries, etc.
* Have 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
To begin, visit https://www.firstbanknigeria.com/business/