The AGSMEIS Loan is the Agri-Business/Small and Medium Enterprise Investment Scheme initiative to support the Federal Government’s efforts and policy measures for the promotion of agricultural businesses and small/medium enterprises (SMEs) as vehicles for sustainable economic development and employment generation
Here is a collection of most required information about how to apply for or Access AGSMEIS loan. The information contain the steps by steps and requirements for the application of this capital loan in Nigeria.
As an agency for loan security, you can grow your business with AGSMEIS Loan Scheme ( NMFB and MSME ), an initiative for sustainable development and employment generation.
How to Access AGSMEIS Loan Scheme
There are 6(six) steps to follow to get access to the affordable AGSMEIS Loan Scheme ( NMFB and MSME ) to start and grow you business;
You Must Get Trained: Attend a compulsory training with a NIRSAL MFB certified Entrepreneurship Development Institute (EDI).
Apply For Loan: Create an account by clicking on ‘Apply now’ as an applicant, validate your BVN and select a NIRSAL MFB certified Entrepreneurship Development Institute (EDI).
Receive Funds: Loans are paid into the account of beneficiaries. Unqualified candidates are given feedback.
Get Business Support Service: The Entrepreneurship Development Institute assists you to implement business plan and provide business support services commercially
Make Sales: Sell products and services to pay back loan and make profit.
Repay Loan: Run your business, keep proper records, monitor sales and expenses to maximize profit and pay back the loan.
How to Apply for AGSMEIS Loan
The eligible businesses for the AGSMEIS are those involved in creative & art industries (fashion, beauty, apparel & textile, arts & entertainment), Industrial & Manufacturing (agriculture & allied Processing, automobiles), Information & Communication Technology (telecommunication and media & publishing) and Hospitality (catering & event management).
The requirements for the AGSMEIS loan scheme includes:
- Your BVN Verification is required
- User Registration Account
- Your Contact Information
- Your Business Information
- Other Information also included
To apply and access AGSMEIS loan, Interested applicants are to visit the https://agsmeisapp.nmfb.com.ng/onboarding and create an account which will enable them start the application process, or visit any of the NMFB Certified EDIs to guide.
Unlike other loan platforms, AGSMEIS loan upon approval, your approved loan amount will be disbursed to your NMFB account. For the purchase of your equipment(s)/machineries, this will be handled by one of the NMFB’s certified Vendors while the working capital funds will be accessible through your account for withdrawal, upon meeting all terms and conditions.
What is the interest rate for this loan? > The interest rate is currently at five percent (5%) per annum.
Do I need collateral? > No, this loan scheme does not require a collateral.
Has disbursement started? > Yes we have disbursed over N95B and this is still ongoing.
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