How Nigerians can apply for N10m CBN , Agri-Business Small and Medium Enterprises Investment Scheme (AGSMEIS) Loan, Without Collateral
Central Bank of Nigeria, Agric-Business/Small and Medium Enterprises Investment Scheme (AGSMEIS) Loan 2019 application is in progress .
This is an initiative of the Bankers’ Committee in a bid to support and complement the Federal Governments’ of nigeria efforts at promoting Agri-businesses/Small and Medium Enterprises as a vehicle for sustainable economic development and employment generation.
The good news is that 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
This initiative requires all Deposit Money Banks (DMBs) to set aside 5% of their annual profit after tax (PAT)
The fund is domiciled with Central Bank of Nigeria and below are some the banks contributions in 2017.
The fund disbursement has started, the disbursements of the funds began in Abuja. The flag off saw the disbursement of about N118 million to 358 beneficiaries under the scheme which seeks to reasonably cut the present high unemployment rates in the country.
AGSMEIS Loan Eligibility
MSMEs in the following sectors are eligible:
Services (Hospitality, Restaurants, Catering, Services, etc),
Creative Industry (Fashion, Design, Crafts, Entertainment, etc),
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 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.
How To Apply
Applicants are expected to be trained and certified by any of the CBN approved Entrepreneurial Development Centres e.g. Lagos Business School, House of Tara, Fate Foundation, Thrive Agric etc to access the loan.
To take advantage of this loan, visit any branch of your bank or contact your bank contact centre.
List of CBN Entrepreneurship Development Centres in Nigeria ( CBN EdC Centres in Nigeria)
Below is the list of CBN EDC Centres in Nigeria and their addresses :
CBN-EDC, Ibadan (South West)
Address: Old SDSTC (Oyo Oodua Skill Acquisition Centre Premises),
Samonda, along Sango-UI Road,
Ibadan, Oyo State, Nigeria.
CBN-EDC, PortHarcourt (South South)
30 Trans-Woji road, Grace plaza, by Slaughter Bridge Woji Town,
Port Harcourt, Rivers State
CBN-EDC, Maiduguri (North East)
website : edcnortheast.com.ng
Address: Old Informatics Institute, Njimtillo, Kano Road,
Maiduguri, Borno State
CBN-EDC, Kano (North West)
Address: Murtala Muhammed Library Complex,
Kano, Kano State
CBN-EDC, Makurdi (North Central)
Off Jonah Jang Crescent,
Near Federal Secretariat,
Makurdi, Benue State.
CBN-EDC, Minna (North Central)
Address: Minna Innovation Institute,
Behind Niger State Sharia Commission,
Justice Ndajiwo Drive,
Minna, Niger State.
CBN-EDC, Enugu (South East)
Address: Ebenezer Villa Suite
8, Ogenyi Close, Off Cornerstone Avenue
Off Nike Lake Resort Road,
Enugu, Enugu State.
Centre for Entrepreneurial Development
website : www.cedl.org
36, Murtala Mohammed International
Airport Road, Lagos.
Application requirement before you can apply.
Registered business with CAC
Evidence of tax payments
Letter of Introduction
Letter of Guaranty
Certification by an EDI
Passport photo of you and guarantor
Valid ID card
( Get them ready)
Those qualified to write letter of introduction are any of these
Senior Civil Servants Level 14 above
MD of Blue Chip Companies