Apply or Get Agricultural Credit Support Scheme (ACSS) from Union Bank in Nigeria By Yourself
- To apply for the Agricultural Credit Support Scheme (ACSS) from Union Bank in person, applicants must visit the nearest branch or branch of Union Bank of Nigeria.
- The person applying can find the closest Union branch of the bank by using the link to locate a branch: Link
- Click the link, choose”Bank branch” from the menu, click on “Bank Branch” option, choose the state you reside in and LGA and then click the “search” click.
- Visit the branch of the bank and fill out an application form to fill out or request an application for Agricultural Credit Support Scheme (ACSS) from the department that you need. Click here to download: Link
- Fill out the application form and include all the required information and details in the sections that are relevant to you.
- Complete the form, and attach the supporting documents within the “Required documents” section on this page.
- Send the application form to the authority responsible within the offices.
- If you need more than N20,000.00 then you must make sure you have collateral for the amount of loan required, according to the appropriate.
- After the submission, the internal process of the application as well as verification of the submitted documents by the appropriate officials will begin.
- In addition, if all documents are in order the applicant will receive an answer regarding the acceptance or refusal for the submission.
- If your application is approved, your account at the bank should be debited with the funds within the time frame following day of the approval.
- The applicant is able to get any information about the status of their request by contacting the office in which the application was submitted.
- Additionally, you’ll require insurance that is provided by The Nigerian Agricultural Insurance Corporation (NAIC). The contact information and address can be found on this hyperlink: Link
Documents Required For Apply or Get Agricultural
- The completed application form
- Specifics of Directors (LLC)
- Copies of Memorandums and Articles of Association (LLC)
- Certificate of incorporation (LLC)
- Names of the sole proprietors/partners (Business name)
- Copies of Registration Certificate and the partnership
- Balance sheet
- Board Resolution
- Feasibility Report
- Three year audited account
- Statistics of Accounts
- Cash Security
- The proof of Stocks, Machinery Insurance
- Director’s Guarantee Form
- Form of the Guarantor
- Project costs and expected output return
- The project’s profitability
Office Locations and Contacts
Union Bank of Nigeria Head Office,
Stallion Plaza 36, Marina,
P.M.B 2027 Lagos,
UnionCare The number is +234-1-2716816. 07007007000
Branch locator: Link
Central Bank of Nigeria,
Plot 33, Abubakar Tafawa Balewa Way,
Central Business District,
Abuja, Federal Capital Territory,
Phone: +234 700 225 5226
CBN branch offices: Link
What are all the Eligibility
- The candidates who qualify are large-scale farmers, active farmers, and entrepreneurs from the agro-allied sector with resources.
- The applicant must have an a bank account with Union Bank of Nigeria.
The process is typically at no cost.
It is based on the gestation time of the farming activity the farmer is involved in.
Documents to Utilize
Formulary for application: Link
- The application form must be filled out in duplicate and should be accompanied by two passport-sized photographs.
- The application should be sent by the bank branch that is the lending institution that the loan is requested.
- Agro-allied entrepreneurs and farmers who have the means to seek out their banks for loans through the state chapters of the farmers’ associations as well as State Implementation Committees whereas large scale farmers can be permitted under the program to directly apply to banks.
- If the loan amount is greater than N20, 000.00, the lender will require you to offer collateral. The collateral can be in physical form or in the form of cash in the amount of 25% as security for the loan amount.
- It is possible to obtain the loan amount of N20,000.00 and less, which is accompanied by an individual guarantee by a trusted individual in your locality or greater than N20,000.00 by being an active member of a Self Help Group or Cooperative Society.
- Name of applicant
- Age and date of birth
- Address of the farm’s residence
- Email address and contact number
- Address of the company
- The name of the banker and the address
- The details of the security that is offered
- The dimensions of the farms
- Other details about the farm
- Income/Expenditure details
- Information about banks
The Document is required
ACSS was created to help farmers to tap into the potential of Nigeria’s agriculture sector. It will reduce the rate of inflation, reduce the cost of production (i.e. food items) and generate surpluses for export, enhance Nigeria’s foreign income and diversify the source of income.
Information that could be helpful
- ACSS ACSS was conceived by the Federal Government and the Central Bank of Nigeria with the active participation and support by The Bankers Committee. The Scheme is governed by a prescribed budget of N50.0billion.
- ACSS funds are paid out to Agro-allied entrepreneurs and farmers at a rate which is 8.0 percent. As soon as the project , banks will provide loans to applicants who are eligible at a 14.0 percent interest rate.
If applicants pay back their loans on time are eligible entitled to a refund of 6.0 percent, thus cutting down the amount of interest payable for farmers down to 8.0 percent.
At the national level, this scheme is administered by an Central Implementation Committee (CIC) and on the Federal Capital Territory (FCT) in addition to at the State level at State and Federal levels, the Scheme is implemented via State Implementation Committees (SICs) created for the purpose of ensuring that purpose of the scheme are realized without hindrance