AGSMEIS Loan Application Form 2022 – Portal Reopens for New Applicants
Federal Microfinance Bank (Nirsal) has launched a new website portal where registration can be performed with Agri-Business Small and Medium Enterprise Investment (AGSMEIS).
Please note that AGSMEIS loan applications are still ongoing. And we are here to show you how to apply for a loan. With AGSMEIS you can get a loan of up to 10 million N10 million with only a 5% interest rate without a deposit.
About AGSMEIS Loan
The Agribusiness/Small and Medium Enterprises Investment Plan is an initiative to support the efforts and policies of the Federal Government to promote agribusiness and small and medium enterprises (SMEs) as a guideline for sustainable growth and job creation.
Please note that AGSMEIS loan applications are still ongoing. And we are here to show you how to apply for a loan. With AGSMEIS you can get loan of up to 10 million N10 million with only a 5% interest rate without a deposit.
Before we show you how to apply for AGSMEIS loan, let’s understand more by answering some quick questions.
Are you in agribusiness? Do you want to start your own small/medium business? if so Relax, this article is for you. Don’t forget to read to the end. so that you understand What is the Agri-Business / MSME Investment Program (AGSMEIS) and how to apply it?
We are excited to announce to the general public and stakeholders that the portal Agri-Business/MSME Investment Scheme (AGSMEIS) is now open to Nigerians.
AGSMEIS Loan Requirements
- Duly completed application form.
- Bank Verification Number (BVN).
- Certificate of Training from a recognized Entrepreneurship Development Institution (EDI) or evidence of membership in an organized private sector
- Recommendation letter from one of the following: Priest, the village head, district chief, orthodox ruler. Senior civil servants, etc. (for individuals/small enterprises only)
- Evidence of business name registration or company registration certificate and annual filing (if applicable) as required by the Company and Affiliate Act (1990).
- Tax Identification Number (TIN) and current withholding certificate TCC), if applicable.
- To qualify for access to this fund You must have received training from the Enterprise Development Institute, after which you will need to fill out a form. They will send your form to the CBN.
- CBN will ask your bank to verify your account details. CBN will then perform its own assessment.
Features of AGSMEIS?
- Interest Rate: 5%
- Tenor: 7 years
- Moratorium: Maximum of 18 months on Principal and 6 months on Interest
AGSMEIS Loan Eligibility
Creative & Art Industries
- Fashion, Beauty
- Apparel & Textile
- Arts & Entertainment
Industrial & Manufacturing
- Agriculture & Allied Processing
- Automobiles
- Information & Communication Technology
Telecommunication
- Media & Publishing
- Hospitality
- Catering & Event Management
LOAN Application Process – AGSMEIS Loan Application Form 2022
Step 1: Get Trained
Attend compulsory training with a NIRSAL MFB certified Entrepreneurship Development Institute (EDI).
Step 2: Apply For Loan
Kindly visit https://agsmeisapp.nmfb.com.ng/ and create an account by clicking on ‘Apply now’ as an applicant, validate your BVN and select a NIRSAL MFB certified Entrepreneurship Development Institute (EDI).
Step 3: Receive Funds
Loans are paid into the account of beneficiaries, so you will make sure you submit your correct account number. Unqualified candidates are given feedback.
Step 4: Get Business Support Service
The Entrepreneurship Development Institute assists you to implement a business plan and provide business support services commercially
Step 5: Make Sales
Sell products and services to pay back loans and make a profit.
Step 6: Repay Loan
Run your business, keep proper records, monitor sales, and expenses to maximize profit, and pay back the loan.
How long before I receive funds?
This loan scheme is designed to be easily accessible. The entire process is automated. From application submission to disbursement should take about eight(8) weeks.
AGSMEIS Loan Application Form 2022
