CBN / First Bank Agricultural Support Scheme application – This is an application support scheme sponsor by the CBN and First Bank of Nigeria.
CBN / First Bank Agricultural Support Scheme / Product Information
This is a special intervention fund of N300bn established by the Federal Government through the CBN to address the financing needs of start-ups and expansion projects of large enterprises of N500 million up to a maximum of N10 billion.
The real sector activities targeted by the facility are manufacturing, agricultural value chain and selected service sub-sectors (hospitals, schools and hotels).
CBN / First Bank Support Scheme / Features
- Low interest rate to customers (9% all-in, max)
- Available for start-ups
- Long-tenured (up to 15years)
- Obligor limits of between N500m and N10b.
- The scheme is available till December 31, 2030.
- Funding provided at cheap cost.
- Very long tenor of loan.
- Funding targeted to start-up projects.