Apply for N10 million CBN AGSMEIS 5% Loan Today.

Apply for N10 million CBN AGSMEIS 5% Loan Today.

Apply for N10 million CBN AGSMEIS 5% Loan

Apply for N10 million CBN AGSMEIS 5% Loan

Agric-Business/Small and Medium Enterprises Investment Scheme (AGSMEIS).

AGSMEIS 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.

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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 corporate organizations.

 

Read Also: How-to-Apply-for-Covid-19-N50bn-cbn-loan-for-Small-Businesses-and-Individual-Household-in-Nigeria

 

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.

Watch Video To learn How to Access $5000 Grant free of charge from Tony Elumelu Foundation in 2021

 

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.
  6. Fill clearly the new form with all the details required , sign and get them authenticated by EDC

 

Maximum loan is 10million 

Interest rate is 5% per annum 

Tenor is 7 yrs

Moratorium is 18 months

Read Also: 25 Things You Need to know about 75Billion Naira MSME Survival Fund to support self-employed persons and MSMEs across Nigeria.

Requirements either during application or before final approval /disbursement 

  1. Registered business with CAC
  2. Evidence of tax payments 
  3. BVN 
  4. Letter of Introduction
  5. Letter of Guaranty 
  6. Certification by an EDI
  7. Passport photo of you and guarantor
  8. Valid ID card

( Get them ready)

Those qualified to write letter of introduction are any of these

  1. Your Pastor 
  2. Chief Imam 
  3. LGA Chairman 
  4. CDA Chairman 
  5. Village Head
  6. Senior Civil Servants Level 14 above
  7. MD of Blue Chip Companies

 

Your friend or spouse can write the guaranty letter.

 

Please note that applicants who submitted last year  and was sent a link to provide further details before  the last requirements came out do not need to re-submit again.

You can find the link to the form here

The apex bank will contact you if they need more information from you.

 

Hope you enjoy this article?

Share your thoughts in the comment session.

Contact us today for your business consultancy and business advisory services. We can help you fine-tune your idea, structure your business, market your business, train your staff, consult on your retirement plan, coach you for financial success. We also write a business plan and help with fundraising strategies and Grant applications. We can help you start, grow, and expand your business.

We help institutions and organizations write concepts, implement Business plans, and train on business Plan writing in Nigeria.

We can help you write a detailed, bankable and comprehensive business plan for your business idea.

Call any of our business plan consultants on 08105636015, 08076359735 and 08113205312.

Or send a WhatsApp message or email us either at dayohub@gmail.com or info@dayoadetiloye.com.

 

Read Also:

1. How-to-Apply-for-Covid-19-N50bn-cbn-loan-for-Small-Businesses-and-Individual-Household-in-Nigeria

2. Watch Video To learn How to Access $5000 Grant free of charge from Tony Elumelu Foundation in 2021

3. BOA-and-SMEDAN-Agro-Processing-Loan

4. How to buy Unleashing Your Entrepreneurial Potential for African Students by Dayo Adetiloye(Opens in a new browser tab)
5. Top 20 Entrepreneurship Development Centres that you can do your AGSMEIS,  CBN, NIRSAL Loan Application Training.(Opens in a new browser tab)
6. Video Training: Top 7 Changes in Tony Elumelu Foundation TEF $5000 Grant 2020 Application that COVID-19 did not allow them to implement and Preparation for 2021 Application.(Opens in a new browser tab)
7. How to Prepare, Apply and Win 2021 Tony Elumelu Foundation $5000 Grant in Africa.(Opens in a new browser tab)
8. Next Steps of the 2021 Tony Elumelu Foundation Entrepreneurship Programme(Opens in a new browser tab)
9. How To Access CBN’s N220 Billion Micro, Small and Medium Enterprises Development Fund (MSMEDF)(Opens in a new browser tab)

10. Top Ten (10) most profitable Small Scale Businesses in Nigeria

 

Video Training:How to access covid 19 loans in Nigeria

36 Comments

  5. Patrick

    Hell Sir, this is Patrick I spoke with some hours ago on phone in respect of Development Bank Loan. Please sir, add me on you facebook as I could not find yours, my ID is Patrick Ezeh Nnamocha. Thanks

    November 12, 2019
  6. Peace David

    Please how do I submit the AGSMEIS Loan application form after filling it.

    January 9, 2020
  7. sale humaru

    I really want this money am from gwoza I want to use it for business

    February 1, 2020
  8. Onasanya Adekunle

    Please what is the first step to take in applying for the CBN Loan please because I’m into Agric. I will like you to get back to me on my email conect2kunle@gmail.com

    February 3, 2020
  9. Nwakamma Emmanuel Chisom

    I CHERISH AGRICULTURE SO MUCH ESPECIALLY FISH FARMING, PLEASE , HOW CAN I GET THIS LOAN?

    February 19, 2020
    • Dayo Adetiloye

      Please follow the procedure.

      February 19, 2020
  10. Nwakamma Emmanuel Chisom

    THE PORTAL FOR THIS CBN LOAN, IS IT OPEN NOW?

    February 19, 2020
  11. Samuel osara

    Appendix

    March 4, 2020
  12. Grace Bassey

    please i need this money to invest in a business and more employment

    March 19, 2020
  13. Ojo Temitope

    How can i apply for loan? I’m a graduate without job

    April 2, 2020
  14. Salawu A. Adams

    Being the first step to access the CBN AGSMEIS loan, how does one get trained by EDI as prescribed?
    I am always ready for the training, please.

    April 9, 2020
    • Dayo Adetiloye

      Go to Smedan Office in your state.

      April 9, 2020
  15. Bola

    Dear Dayo, i am a new comer in Piggery. I need a loan for expansion. How do i go about this.
    Thank you

    April 14, 2020
  16. Micheal orumwense

    Please need this money for my agriculture plan please.

    April 15, 2020
  17. Akpan Andikan Nyaudo

    Hello sir
    I fill the loan form since 2018
    I was call last year that I am qualify for the loan
    I have done everything that I was asked to do, but uptil now I have no been credited
    So pls sir I need your help
    Thank you sir

    April 19, 2020
  18. Adewale ayodeji Johnson

    Please sir I have qualify for the loan but I have yet receive credited in my account please help me

    April 22, 2020
    • Dayo Adetiloye

      We just give out information here.

      We don’t give loans

      April 26, 2020
  19. Patience

    Please when is the closing date for the registration.

    June 15, 2020
  20. Aisha saleh

    Comment iwas applied idid not see result

    June 17, 2020
  21. Buhari mkhtar Adam

    Thank God

    June 18, 2020
  22. Abdullahi

    Hello good morning

    June 23, 2020
  23. Abdullahi

    I want applied in order to invest my self-defense

    June 23, 2020
  24. SULE SAMAILA

    I WANT LOAN TO START BUSINESS PLEASE LET ME GET MY REPLY IN MY GMAIL

    June 30, 2020
  25. Tijani Nasir

    how can i access the loan?

    July 3, 2020
  26. nkoli shedrach chukwudozie

    I have finish my training with Agsmeis since august last year .Pls what next.

    July 23, 2020
    • Dayo Adetiloye

      Have you applied through your EDI

      July 23, 2020
  27. Hafizu sabo Muhammad

    Hello,sir I have everything since 2011 my business plan it’s all ready finished under EDC with curriculum covered during the training. Life skills development, leadership skills, Basic Business management , Entrepreneurial Development, marketing, credit management, insurance, co operative formation, mentoring, community service, Business plan Development All are intate then sani Abacha youth center has retraining me with identification number AP/RT/LA/19/1873
    T

    August 5, 2020
  29. MOHAMMED MODIBO

    Sir I do my interview me and my friend on 01/06/2020 but no anything up now. Sir from interview to disbursement how many weeks

    August 25, 2020
  30. Abulfatahi ahmad

    Bauchi

    October 16, 2020
  31. SULAIMAN SANI ABUBAKAR

    i want to applied in order to invest my self defense, please can you half?

    December 9, 2020
    • Dayo Adetiloye Business Hub

      Yes, please go and apply.

      December 11, 2020
  32. Ismail garba

    Thanks

    December 21, 2020
  33. Chukwuma

    Please have gotten the busines plan in hard copy and pdf. But I’m still waiting for the training and the money

    March 18, 2021
  35. Emmanuel Smart

    please is this money still available, i really need it.

    May 3, 2022
    • Dayo Adetiloye Business Hub

      It has been long , we are not sure.

      May 3, 2022

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