CBN AGSMEIS loan 2019 /2020 Application, Requirements and Deadline

You can access up to N10M at 5% per year from the Agric, Small and Medium Enterprise (AGSMEIS) scheme, an initiative of the Central Bank of Nigeria (CBN), without guarantee. CBN AGSMEIS loan Application, Requirements and Deadline – APPLY Now

AGSMEIS is an initiative of the Bankers Committee in an attempt to support and complement the efforts of federal governments to promote agricultural / small and medium-sized enterprises as a vehicle for sustainable economic development and job creation.

Objectives of the Agricultural, Small and Medium Business Scheme (AGSMEIS)
The objectives of the Scheme include:

  • To ensure that small and medium enterprises (SMEs) have access to financing.
  • To generate much-needed employment opportunities in Nigeria.
  • Develop the agricultural value chain and ensure sustainable agricultural practices.
  • Promote the management capacity of Agribusinesses / SMEs as channeling of growing companies that can become large corporate organizations.
READ ALSO  World Bank - Federal Government Grants in Nigeria 2019 List- How to Apply

 

AGSMEIS loan eligibility

MSMEs in the following sectors are eligible:

  • Agricultural companies,
  • Education,
  • Health,
  • Services (Hospitality, Restaurants, Catering, Services, etc.),
  • TIC,
  • Manufacturing production,
  • Mining,
  • Creative industry (fashion, design, crafts, entertainment, etc.),
    etc.

 

How to apply for AGSMEIS loan in Nigeria Without Collateral

Interested Nigerians are advised to click the image below to apply:

Step 1
Be trained
Attend a mandatory one-week training at a CBN Certified Business Development Institute (EDI).
You can check the list of CBC EDC Centers in Nigeria.

Step 2
Apply for a loan
The Business Development Institute (EDI) guides you and helps you obtain all the necessary documents to secure the loan.

Step 3
Receive funds
Loans are deposited in the beneficiaries account. Unskilled candidates receive comments.

Step 4
Get commercial support services
The Business Initiative Development Institute helps you implement a business plan and provide commercial support business services.

Step 5
Make sales
Sell ​​products and services to pay loans and make a profit.

Step 6
Pay off loan
Run your business, keep proper records, control sales and expenses to maximize profits and repay the loan.

 

What is the AGSMEIS loan interest rate?

Five percent (5%) during the first five (5) years. If you get One Million Naira (N1,000,000), you will pay One Million Fifty Thousand Naira (N1,050,000) for the duration of the loan.

READ ALSO  Commonwealth Foundation Grants 2019/2020 - Download Application Form

 

About NMFB

The National Microfinance Bank is a leading Nigerian financial institution authorized by the Central Bank of Nigeria (CBN) in Nigeria. The Company was incorporated as a Private Limited Company in 2019 and began operating after the Central Bank of Nigeria granted a license to operate as a National Microfinance Bank in the same year. 50% is owned by the Bankers Committee, 40% by NIRSAL and 10% by NIPOST. So far, the bank has disbursed approximately 776 million in loans to eligible SMEs under the AGSMEIS.

Don’t forget to click the links below to continue reading about employment opportunities like this and more around Nigeria and in the world.

Must Read:

Nigerian Woman holds down a live python, cuts it open to remove Goat

JAMB Sets Deadline for Tertiary Institution’s Admission Process

Npower Final List of for Shortlisted Candidates 2019/2020 Job Recruitment

Federal Airport Authority of Nigeria FAAN Recruitment 2019 – Apply Here

KPMG Nigeria Graduate & Experienced Job Recruitment 2019/2020

Best Electric Cars: Next Wave of Ultra-Luxury Electric Cars Entering the Market—and They Don’t Disappoint

Google Develops Native Lazyload Plugin for WordPress

Nigerian Army List of Successful Candidates for 2019/2020 Job Recruitment

Nigerian National Petroleum Commission NNPC List of Shortlisted Candidates for 2019/2020 Job Recruitment

Innoson Vehicle Manufacturing IVM Job Recruitment 2019/2020 – Apply Now

National Youth Entrepreneurship Empowerment NYEES Recruitment 2019

‘I’m Tired of Being Ashamed of My Body’ – Demi Lovato Shares Unedited Bikini Pic

Latest NPower News Update Today September 5th 2019

Ikeja Electricity Distribution Company IKEDC Recruitment 2019/2020 – Apply Now

Chevron Internship 2019/2020 Registration Form Portal is Now Open – Apply

Welcome2Africa Recruitment 2019 – Apply Now

MTN Nigeria ICT and Business Skills Training Program 2019/2020 – Apply Now

eHealth4everyone Recruitment 2019/2020 – Apply Now

Profile of Obinwanne Okeke: Age, Net Worth, Family and Allegations

Nigerian Army Short Service Commission SSC and Direct Service Commission DSC Recruitment 2019

Need more information? Please click below or drop your comments in the comments section!!!

Click below to Apply

The Author

SPC Admin

schoolpluscareer.com is a leading website that is programmed to get you informed, educated, entertained, exposed and blessed by Generating, Disseminating and preserving knowledge for all round success. Our services include: Information on Nigerian Tertiary Institutions; Information on Local And Foreign Scholarships, Entertainment/Celebrity Gists; Information on Jobs and Recruitments; Local and foreign news reporting;  Blogging tutorials; News coverage; Article / creative writing; AutoCAD and Graphics design; Online Registration Of WAEC, JAMB, NDA, etc; Ghost Writing services and Many more Standard based services.

Leave a Reply