What is AGSMEIS?
The Agri-Business/Small and Medium Enterprise Investment Scheme 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.
In this scheme, one can access up to N10million without Collateral at 9% interest per Annum.
In this scheme, one can access up to N10million without Collateral at 9% interest per Annum.
Who is Eligible?
1. Creative & Art industries
- - Fashion, Beauty
- - Apparel & Textile
- - Arts & Entertainment
2. Industrial & Manufacturing
- - Agriculture & Allied Processing
- - Automobiles
3. Information & Communication Technology
- -Telecommunication
- -Media & Publishing
4. Hospitality
- -Catering & Event Management
How Does It Work
Step 1Get Trained
Attend a compulsory training with a CBN certified Entrepreneurship Development Center (EDC).
Step 2Apply For Loan
The Entrepreneurship Development Institute (EDI) guides and assists you in getting all necessary documents required to secure the loan.
Step 3Receive Funds
Loans are paid into the account of beneficiaries. Unqualified candidates are given feedback.
Step 4Get Business Support Services
The Entrepreneurship Development Institute assists you to implement business plan and provide business support services commercial.
Step 5Make Sales
Sell products and services to pay back loan and make profit.
Step 6Repay Loan
Run your business, keep proper records, monitor sales and expenses to maximize profit and pay back the loan.
Frequently Asked Questions
How do I access the Loan?
Get trained by first selecting a CBN-Certified Entrepreneurship Development Institute (EDI) to guide you through the loan application process and ensure that all your documents are complete.
What is the interest rate for this loan?
The interest rate is nine percent (9%) per annum.
Do I need collateral?
No, this loan scheme does not require a collateral.
How long will it take to receive funds?
This loan scheme is designed to be easily accessible. The entire process is automatted. From application submittion to disbursement takes six(6) to eight(8) weeks.
Has disbursement started?
Yes we have disbursed over N1.9B and this is still ongoing.
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