How To Apply For The Agric-Business/Small and Medium Enterprises Investment Scheme (AGSMEIS)

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The Federal Government(FG) is supporting farmers and other artisan businesses real time with agricultural loans to help boost their  businesses,  with access fund of Three Million Naira (N3,000,000), via The Agric-Business/Small and Medium Enterprises Investment Scheme (AGSMEIS). On this page we will be giving and guiding you with details about the scheme requirement and how you can also apply for the loan successfully

The Scheme supports government policy measures for the promotion of agricultural businesses, and micro, small and medium enterprises (MSMEs) as vehicles for sustainable economic development and employment generation.

Modalities

  • Financing under the Scheme shall be for start-ups, business expansion, or revival of ailing companies. The terms of the loans shall be as follows:
  • Loan amount: Up to N3,000,000
  • Interest: 5% per annum for regular and 0% for non interest AGSMEIS
  • Tenor: Up to 7 years (depending on nature/gestation period of the project)
  • Moratorium: Maximum of 18 months for principal and 6 months on interest.

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To access the AGMEIS loan, there are some conditions that must be met:

  1. Interested Applicants must undergo training by a CBN-certified Entrepreneurship Development Institution (EDI)
  2. Interested Applicants will apply for the loan through the CBN-accredited EDI
  3. The application will then be sent to CBN through NIRSAL MFB by the EDI, for processing.
  4. Those qualified will be contacted and given the loan.
  5. Fill clearly the form with all the details required, sign it, and get them authenticated by the EDI.

Requirements either during the application or before final approval/disbursement

  1. BVN
  2. Certificate issued by a CBN-certified EDI
  3. Details of two (2) Guarantors
  4. Valid ID card
  5. A Business Plan provided by the EDI

Visit The Official Web Page To Begin Application

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