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:
Services (Hospitality, Restaurants, Catering, Services, etc),
Creative Industry (Fashion, Design, Crafts, Entertainment, etc),
CBN AGSMEIS Loan in Nigeria
How To Apply For AGSMEIS Loan In Nigeria Without Collateral
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.
Apply For Loan
The Entrepreneurship Development Institute (EDI) guides and assists you in getting all necessary documents required to secure the loan.
Loans are paid into the account of beneficiaries. Unqualified candidates are given feedback.
Get Business Support Services
The Entrepreneurship Development Institute assists you to implement business plan and provide business support services commercially.
Sell products and services to pay back loan and make profit.
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
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.