Apply for N10 million CBN AGSMEIS 5% Loan Today.

Application deadline: Unspecified
Hello (prospective) business owners. This thread is on how to access loan via a scheme called Agric-Business/Small and Medium Enterprises Investment Scheme (AGSMEIS)
Please note: it is not limited to Hello (prospective) business owners. This thread is on how to access loan via a scheme called Agric-Business/Small and Medium Enterprises Investment Scheme (AGSMEIS)
Please note: it is not limited to Agriculture alone and it takes care of both start ups and existing businesses
Before going into details on how loan can be accessed via AGSMEIS, I will do an introduction of the scheme, aims and objectives of the Scheme also state the activities covered by the Scheme.
AGSMES is a voluntary initiative of the Bankers’ Committee approved at its 331st meeting held on 9th February, 2017. The Scheme requires all banks in Nigeria to set aside 5% of their profit after tax (PAT) annually.
The initiative is to support the Federal Government’s efforts and policy measures for the promotion of Agricultural Businesses, Small and Medium Enterprises (SMEs) as vehicles for sustainable economic development and employment generation.
The objectives of the Scheme includes:
To ensure access to finance for Small and Medium Enterprises (SMEs), as these are the engine of growth of the Nigerian economy.
To generate much-needed employment opportunities in Nigeria.
To develop agricultural value chain and ensure sustainable agricultural practices.
Boost the managerial capacity of Agri-Business/SMEs as pipelines of growing enterprises that can become huge coporate organizations.

Activities covered include:
Businesses across the agricultural value chain covering inputs supply, production, storage, processing, logistics and marketing. MSMEs in the real sector including manufacturing, mining and petrochemicals.
MSMEs in the service sector including information and communication technology (ICT) and the creative industry. Other activities as may be determined by the Bankers’ Committee from time to time.
Now to access AGSMEIS loan, there are some conditions that must be met.
1)interested applicant must have been trained by an Entrepreneur Development Institute (EDI)
2)interested applicant will apply for loan via an EDI
3)the applications will then be sent to CBN for processing
4)applicants will be called for an interview regarding his/her business.
5)those qualified will be contacted and given the loan.
NOTE: LOANS MAY NOT COME IN CASH, RATHER NEEDED EQUIPMENTS WILL BE PROVIDED WHERE NECESSARY AND CASH WHERE NECESSARY (IN THE CASE OF WORKING CAPITAL)
For the loan repayment, maximum of 18 months moratorium will be given on the loan principal and 6 months on the interest of the loan.
Interest rate is at 5% per annum payable within 7years. Loan limit is 10million naira
For those that are self trained or already in business, you can approach an EDI, tell them you want to apply for AGSMEIS loan and they will tell you what to do. Incase of any doubt, please visit any CBN branch nationwide, go to Development Finance Office and ask questions if you have any.
Please be informed that whatever state your business is located is where you are eligible to apply as there will be periodic follow upAgriculture alone and it takes care of both start ups and existing businesses
Before going into details on how loan can be accessed via AGSMEIS, I will do an introduction of the scheme, aims and objectives of the Scheme also state the activities covered by the Scheme.
AGSMES is a voluntary initiative of the Bankers’ Committee approved at its 331st meeting held on 9th February, 2017. The Scheme requires all banks in Nigeria to set aside 5% of their profit after tax (PAT) annually.
The initiative is to support the Federal Government’s efforts and policy measures for the promotion of Agricultural Businesses, Small and Medium Enterprises (SMEs) as vehicles for sustainable economic development and employment generation.
The objectives of the Scheme includes:
To ensure access to finance for Small and Medium Enterprises (SMEs), as these are the engine of growth of the Nigerian economy.
To generate much-needed employment opportunities in Nigeria.
To develop agricultural value chain and ensure sustainable agricultural practices.
Boost the managerial capacity of Agri-Business/SMEs as pipelines of growing enterprises that can become huge coporate organizations.

Activities covered include:
Businesses across the agricultural value chain covering inputs supply, production, storage, processing, logistics and marketing. MSMEs in the real sector including manufacturing, mining and petrochemicals.
MSMEs in the service sector including information and communication technology (ICT) and the creative industry. Other activities as may be determined by the Bankers’ Committee from time to time.
Now to access AGSMEIS loan, there are some conditions that must be met.
1)interested applicant must have been trained by an Entrepreneur Development Institute (EDI)
2)interested applicant will apply for loan via an EDI
3)the applications will then be sent to CBN for processing
4)applicants will be called for an interview regarding his/her business.
5)those qualified will be contacted and given the loan.
NOTE: LOANS MAY NOT COME IN CASH, RATHER NEEDED EQUIPMENTS WILL BE PROVIDED WHERE NECESSARY AND CASH WHERE NECESSARY (IN THE CASE OF WORKING CAPITAL)
For the loan repayment, maximum of 18 months moratorium will be given on the loan principal and 6 months on the interest of the loan.
Interest rate is at 5% per annum payable within 7years. Loan limit is 10million naira
For those that are self trained or already in business, you can approach an EDI, tell them you want to apply for AGSMEIS loan and they will tell you what to do. Incase of any doubt, please visit any CBN branch nationwide, go to Development Finance Office and ask questions if you have any.
Please be informed that whatever state your business is located is where you are eligible to apply as there will be periodic follow up

Step 1
Get Trained
Attend a one week compulsory training at a CBN certified Entrepreneurship Development Institute (EDI). You can check the list of CBN EDC Centres in Nigeria.

Step 2
Apply For Loan
The Entrepreneurship Development Institute (EDI) guides and assists you in getting all necessary documents required to secure the loan. There is agsmeis loan application form pdf sample I uploaded online for informative purpose. You can get the current application form from the CBN EDC that trained you.

Step 3
Receive Funds
Loans are paid into the account of beneficiaries. Unqualified candidates are given feedback.

Step 4
Get Business Support Services
The Entrepreneurship Development Institute assists you to implement business plan and provide business support services commercially.

Step 5
Make Sales
Sell products and services to pay back loan and make profit.

Step 6
Repay Loan
Run your business, keep proper records, monitor sales and expenses to maximize profit and pay back the loan.

What is 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.

To apply visit the official homepage:

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5 Comments Posted

  1. I have completed my CDI training and gotten my business plan,done all expedted of me,where do i log in to fill the loan form.

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