NMFB Non-Interest Agsmeis Loan 2022 –NMFB Application, NMFB Registration, NMFBEmail Verification, NMFB Loan Status and more can be accessed below..
How to Access up to 3 Million Naira CBN Loan Without Collateral
The Central Bank of Nigeria (CBN) provides up to N3 000 000 (three million nair) loans to small businesses under the scheme; Agribusiness / Small and Medium Business Investment Scheme (AGSMEIS).
The scheme supports government policies to promote agribusiness, micro, small and medium-sized enterprises (SMEs) as a means of sustainable growth and jobs.
Objectives of NMFB Non-Interest Agsmeis Loan
Improve access to affordable and sustainable financing through agribusiness, micro, small and medium-sized enterprises (SMEs).
Create job opportunities in Nigeria.
Increase the management capacity of agricultural enterprises and SMEs to develop industries into large corporate organizations in line with the federal government’s agenda for real sector development and inclusive growth.
The right sector / business
- Agriculture and agro – processing
- Arts and entertainment
- Car services
- Fashion and sewing
- Catering and event organization
- Courier and delivery services
- Creative industry
- Clothing and textiles
- Cottage industry
- The media
- Health services
- Welding and manufacturing
- Cosmetics, beauty and makeup
- Electrical and Electronics
- POP and tile laying
- Manufacture of edging and poles
Under this scheme, financial support will be provided for start-ups, business development or the recovery of firms in difficulty. The terms of the loan will be as follows:
Loan amount: up to 3 000 000 N
Interest: 5% per annum for ordinary and 0% for non-interest-bearing AGSMEIS
Tanning: up to 7 years (depending on the nature of the project / pregnancy)
Morgue: up to 18 months principal and 6 months interest.
To receive an AGMEIS loan, certain conditions must be met:
Interested candidates should be trained by a CBN-certified Business Development Organization (EDI)
Interested applicants will apply for a loan through a CBN-accredited EDI
EDI will then forward the application to CBN for processing via NIRSAL MFB.
Eligible individuals will be contacted and a loan will be granted.
Clearly fill out the form with all the required information, sign and confirm the EDI.
Requirements at the time of application or prior to final approval / distribution
- CBN certified EDI certificate
- Details of two (2) guarantors
- Valid ID card
- Business plan submitted by ED