AGSMEIS Loan 2021: Requirements and How to Apply

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AGSMEIS loan, AGSMEIS is an acronym for Agri-Business/ Small and Medium Enterprise Investment Scheme. It is an 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.

Also Read: General Grant and Guaranteed Offtake: Registration Portal Now Open (Apply Now)

The AGSMEIS(Agri-Business/Small and Medium Enterprise Investment Scheme) has an application portal through which interested applicants can apply. The portal is powered by NISAL microfinance bank which is the nation’s microfinance bank used for all CBN-related loans including NYIF.

Eligibility:

The AGSMEIS Loan is meant for those in the following line of business;

A. Creative & Art industries; this includes those into;

• Fashion, Beauty
• Apparel & Textile
• Arts & Entertainment

B. Industrial & Manufacturing

• Agriculture & Allied Processing
• Automobiles

C. Information & Communication Technology

• Telecommunication
• Media & Publishing

D. Hospitality

• Catering & Event Management

Interest Rate for AGSMEIS Loan:

1. The interest rate for this loan is 9% per year.
2. You don’t need collateral to access this loan.
3. The loan takes a maximum of 2 months to access provided you have completed your training.

Requirement:

Outside submitting your application for this loan, there are few things that you are required to do before you can access this loan and they include;

1. Get trained – Attend compulsory training with a CBN certified Entrepreneurship Development Center (EDC). You can find the list of centers here
2. Apply for the loan – The Entrepreneurship Development Institute (EDI) guides and assists you in getting all necessary documents required to secure the loan
3. Receive Loan – Loans are paid into the account of beneficiaries. Unqualified candidates are given feedback.

How To Apply For AGSMEIS Loan:

All interested and eligible candidates should click the Apply link to apply online

Apply