Recognizing the financing needs of various agribusinesses within the country, Keystone Bank Limited has a dedicated Agric Finance desk to attend to the needs of such agribusinesses. The unit offers advice to customers and makes applications on their behalf to CBN for funds at concessionary rates.
The CBN Intervention schemes include:
• Micro, Small and Medium Enterprises Development Fund (MSMEDF)
• Commercial Agricultural Credit Scheme (CACS)
• Agricultural Credit Guarantee Scheme Fund (ACGSF)
• Nigeria Incentive-Based Risk Sharing System for Agricultural Lending (NIRSAL)
• Real Sector Support Facility (RSSF)
Micro, Small and Medium Enterprises Development Fund (MSMEDF)
This fund provides finance for SMEs along the agricultural value chain with agricultural asset (excluding land) of between N5m and N500m and staff strength of between 11 and 200. It was released to enhance access to financial services by MSMEs, increase in productivity, creation of wealth and gender inclusion (women in business). A customer can access up to N50M at an interest rate of 9% and a maximum tenor of 5 years.
Commercial Agricultural Credit Scheme (CACS)
This scheme finances farms or agro-based enterprises with agricultural asset (excluding land) of not less than N100 million for an integrated farm with prospects of growing the assets to N250 million within the next three years and N50 million for non-integrated farms/agro-enterprise with prospects of growing the assets to N150 million, except in the case of on-lending to farmers’ cooperative societies. A customer can access between N50M-N2B at an interest rate of 9%. Tenor is based on the gestation period of the enterprise.
Agricultural Credit Guarantee Scheme Fund (ACGSF)
This fund provides guarantee in respect of loans for agricultural purposes by the Central Bank of Nigeria. The amount that can be accessed under this fund include: a maximum of N1M (individuals) without tangible security, a maximum of N5M (individuals) with tangible security and a maximum of N10M to Corporate entities/Cooperative societies with tangible security.
Nigeria Incentive-Based Risk Sharing System for Agricultural Lending (NIRSAL)
NIRSAL is a Risk Sharing Fund designed to identify, redefine, measure, re-price and evolve strategies for the risks of lending to the Nigerian agriculture value chain.
This fund is suitable for customers with inadequate collateral to secure the facility. It provides guarantees and interest drawback for different categories of Agriculture production. The customer has to pay 1% of the face value of the loan to access the guarantee and/or interest drawback.
Real Sector Support Facility (RSSF)
This fund provides support to startups and large manufacturing and agricultural Enterprises with expansion financing needs of N500million up to a maximum of N10billion at an interest rate of 9%. Tenor is a maximum of 15years based on the complexity of the project.
At Keystone Bank, we offer convenience and reliability driven on a robust technological platform.
Further questions and enquiries, please contact us using any of our details below:
The Pink Network
1, Keystone Bank Crescent,
Off Adeyemo Alakija Street,
Victoria Island, Lagos NIGERIA.
Hotlines: 07046004000 or 07080605000