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CBN AGSMEIS Loan 2019 : How To Apply Without Collateral

CBN AGSMEIS Loan 2019 application is in progress as at the time of publishing this post.

You can access up to N10M at 5% per annum from the Agric, Small and medium enterprise scheme (AGSMEIS), an initiative from Central Bank of Nigeria (CBN) – without collateral.

AGSMEIS is an initiative of the Bankers’ Committee in a bid to support and complement the Federal Governments’ efforts at promoting Agri-businesses/Small and Medium Enterprises as a vehicle for sustainable economic development and employment generation.

Objectives of Agric, Small and Medium Enterprise Scheme (AGSMEIS)

The objectives of the Scheme include :

  • To ensure Small and Medium Enterprises (SMEs)have access to finance
  • To generate much-needed employment opportunities in Nigeria
  • To develop agricultural value chain and ensure sustainable agricultural practices.
  • To boost the managerial capacity of Agri-Business/SMEs as pipelines of growing enterprises that can become huge corporate organizations.

 

AGSMEIS Loan Eligibility

MSMEs in the following sectors are eligible:

  • Agricultural businesses,
  • Education,
  • Health,
  • Services (Hospitality, Restaurants, Catering, Services, etc),
  • ICT,
  • Manufacturing/Production,
  • Mining,
  • Creative Industry (Fashion, Design, Crafts, Entertainment, etc),
  • etc

CBN AGSMEIS Loan in nigeria

How To Apply For AGSMEIS Loan In Nigeria Without Collateral

Step 1
Get Trained
Attend a one week compulsory training at a CBN certified Entrepreneurship Development Institute (EDI). You can check the list of CBN EDC Centres in Nigeria.

Step 2
Apply For Loan
The Entrepreneurship Development Institute (EDI) guides and assists you in getting all necessary documents required to secure the loan. There is agsmeis loan application form pdf sample I uploaded online for informative purpose. You can get the current application form from the CBN EDC that trained you.

Step 3
Receive Funds
Loans are paid into the account of beneficiaries. Unqualified candidates are given feedback.

Step 4
Get Business Support Services
The Entrepreneurship Development Institute assists you to implement business plan and provide business support services commercially.

Step 5
Make Sales
Sell products and services to pay back loan and make profit.

Step 6
Repay Loan
Run your business, keep proper records, monitor sales and expenses to maximize profit and pay back the loan.

What is AGSMEIS Loan Interest Rate?

Five percent(5%) for the first five(5) years. If you obtain One Million Naira(N1,000,000), you will pay back One Million Fifty Thousand Naira(N1,050,000) throughout the duration of the loan.

 

More info at : www.nmfb.com.ng/sme

 

About NMFB

The National Microfinance Bank is a leading Nigerian financial institution licensed by the Central Bank of Nigeria (CBN) in Nigeria. The Company was incorporated as a Private Limited Company in 2019 and commenced operations following the grant of a licence by the Central Bank of Nigeria to operate as a National Microfinance Bank in the same year. It is Owned 50% by the Bankers Committee, 40% by NIRSAL and 10% NIPOST. So far the bank has disbursed approximately 776 million in loans to eligible SMEs under the AGSMEIS.

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36 Comments

  1. I am a computer graphics Artist, Designs, Printing and Publishing, I am interested in the loan to enable to start a mini business Centre, 15 years experience in Computer design.

    I will be glad If am given a loan to establish my business centre, I can pay it back

    Name: Suleiman Abdulmumin
    E-mail: ozisuleiman@gmail.com

  2. My name is Sylvester galadima from kaduna, I m so interested where do I start from here since we don’t have any of CBN ede centers in kaduna state

  3. I need the loan to establish a secondary school in Benue state. How do I access it. How much does it take to go through the training to qualify for the loan?

  4. Comment*Thanks for your assisting narrations. We are an entrepreneurial development consulting firm/institution. Our Lead Consultant, besides being a Chartered Accountant, was a Centre Manager at SMEDAN before setting up our firm. We are seriously interested in becoming an EDI, for the purpose of assisting AGSMEIS application processes. Please assist by informing us on the necessary processes for this. We have clients willing to benefit from this uncommon opportunity. Thanks, we await your ‘ogbonge’ reply.

  5. My name ikumapayi abiodun,I am so much interested in the loan,how do I get it. I operate hotel, hospitality bar and restaurant,and also a farmer.

  6. Am in much interests on this loan applications, how can someone get train because am in ogbomoso Oyo state.where is the training center in Oyo state and where the application form can be obtain..

  7. i’m akpomudje godswill a farmer i have fill the form through the organization that tought me on poultry management but the bank text me to complete my registration online. wish i dont know were to go

  8. Am interested in getting the loan am a renewable energy consultant my company name pristine heritage renewable energy consultant and my email akpanabraham@yahoo.com i will like to setup a renewable energy shop and put more youth’s through the renewable energy

  9. My name is Akpitaye Obarieru, am from Osun state, Am interested in this kind of program, How can I get the form so as to fill it in? Thanks.

  10. Please I want to ascertain when the training starts and how to get registered. I would wish to know if there is an office at Ebonyi State as it is only Enugu office that is in the list. What are the criteria for attending the training and when is it commencing.

  11. Good day please I want to apply for the loan I have CAC and I have place for the FARM. Am in Kano. I want to apply please. And how long will it take to get the money
    Thank you
    Regard HAMZA ALI

  12. I opened a Gmail account with nirsal for that loan and training but I wasn’t see the form for registration. Please help me with the information about it.

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