Commercial Agriculture Credit Scheme (CACS)
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The Commercial Agriculture Credit Scheme (CACS) was introduced on 18th February 2009 to promote commercial agricultural enterprises in Nigeria. It is a sub-component of the Federal Government of Nigeria�s Commercial Agriculture Development Programme (CADP).
The objectives of the scheme are:
- To fast-track development of the agricultural sector by providing credit facilities to commercial agricultural enterprises at a single digit interest rate;
- Enhance national food security through increased output
- Generate employment
- Diversify the revenue base & increase foreign exchange earnings
- Provide input for the industrial sector on a sustainable basis
How to apply
All applications for loans under the Scheme are made through the Participating Financial Institutions(PFI). See Guidelines for further information.
Questions | Responses | |
---|---|---|
1 | How do I apply for CACS? | All applications are though deposit money banks |
2 | What kind of projects are funded under CACS? | Agricultural production and processing |
3 | Can individuals and enterprises access CACS? | No. Only limited liability companies can access CACS |
4 | Do I need collateral for CACS loan? | Yes. CACS loans require acceptable collateral by the Deposit Money Bank (DMB) |
5 | Can a company borrow for start up? | Yes. CACS loans are for start-up and existing eligible projects |
6 | What is the tenor of CACS loans? | 12 months for working capital and up to 5 years for asset/machinery |
7 | Can CACS be used for solid minerals? | No. Only agriculture |
8 | Can CACS be used for importation of machinery? | Can CACS be used for importation of machinery? |
9 | Is there a moratorium under CACS? | Yes. This is approved on a case-by-case basis and is project specific |
10 | What is the loan limit for CACS? | N1 billion for State Governments and N2 billion for private companies |