How to apply for CBN AGSMEIS loan for up to N10 Million. You can apply for this federal government loan scheme with no collateral.
Agric small and medium enterprise is an initiative of central bank of Nigeria which is currently going on in this 2021.
The Agric small and medium enterprise schcheme is from the federal government of Nigeria to allow it’s citizens apply for the CBN AGSMEIS loan.
AGSMEIS Loan Beneficiaries
Who are the people to benefit from this loan
- Event Management and Catering
information And Communication Technology
- Media and Publishing
Producing, Manufacturing And Industry
- Allied Processing
Creative And Art Industries
- Apparel and Textile
- Arts and Entertainment
- Beauty and Fashion
With this loan you can get up to N10 Million, so continue reading to know how to apply, read more to know about the loan because you are about to claim your own millions.
What is AGSMEIS
Agric small and medium enterprise is a bid to help the growth of Agric and small, medium enterprise businesses as a way for a better economic and to promote employment.
- Help in increasing employment opportunities in Nigeria.
- To boost the capital of farmers.
- To finance small medium enterprise.
How To Access
- After registering to their portal you will need to fill the training form and submit.
- You will first Need to be trained by EDI which is an entrepreneur development institute.
National microfinance bank which is the leading financial institution in Nigeria and is being licensed by the central bank of Nigeria (CBN). This company it owned by the bankers committee with just 50% and 40% by NIRSAL, 10% by NIPOST. The bank has given so far approximately 776 million naira in loan to SMEs through the AGSMEIS.
CBN AGSMEIS Loan Requirements
Here are some basic requirements you may need when accessing the AGSMEIS CBN loan before final approval or during the application to be funded to the applicant.
- Certificate from EDI (which is the training you need to go when applying for the loan)
- Valid ID
- Passport of your guarantor and yourself.
- CAC registered business
- Proof of your tax payment
- An introduction of a letter
- Letter of Guaranty
AGSMEIS Loan interest rate
The CBN AGSMEIS loan Agric small and medium enterprise interest rate is nine percent (9%) per annum.
Who can write letter of introduction for AGSMEIS Loan?
- CDA Chairman
- Village Head
- LGA Chairman
- Your Pastor
- Senior Civil Servants with at least level 14
- MD of Blue Chip Companies
- Spouse or a friend can write the guaranty letter
- Chief Imam
AGSMEIS Loan Portal And How To Apply
After you have successfully registered to the AGSMEIS Loan Registration Portal you will need to fill the training form in the portal then you submit it.
You will attend the training and after you finish submitting your loan form, you will be given the loan.
You have to complete your training before you will be given the loan, which you have to submit your training application after you register in the loan portal.
Here’s the loan portal link which you will use to register for the CBN nirsal loan with no collateral.
You can also check How to Apply For CBN Agric/Farmers Loan 2021.
After you reach the AGSMEIS Registration Portal, then you sign up and login for you to fill your training form, after being trained which you will be granted the loan.