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.


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.),


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.


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.

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