Applications are open for the Federal Government CBN AGSMEIS Loan Scheme for Nigerian Entrepreneurs.Get up to 10 million naira to support your business with no collateral.
The Agri-Business/Small and Medium Enterprise Investment Scheme (AGSMEIS) is an initiative to support the Federal Government‘s efforts and policy measures for the promotion of agricultural businesses and small/medium enterprises (SMEs) as vehicles for sustainable economic development and employment generation.
How to Access the CBN Loan.
When you are applying from the application portal you will select a CBN-Certified Entrepreneurship Development Institute (EDI) near you to guide you through the loan application process and ensure that all your documents are complete.The Entrepreneurship Development Institute trains and assist you to implement business plan and provide business support services commercially.
- Artisans & Vocation
- Beauty and Cosmetics
- Cottage Industry
- Creative arts and entertainment
- Fashion and textiles
- Furniture and interior design
- Hospitality and Tourism
- Info Comm and Technology
- Oil and Gas
- Retail and Commerce
- Waste Management and Recycling etc….
What is the interest rate for this loan?
The interest rate is nine percent (9%) per annum.
Do I need collateral?
No, this loan scheme does not require a collateral.
How long will it take to receive funds?
This loan scheme is designed to be easily accessible. The entire process is automatted. From application submission to disbursement takes six(6) to eight(8) weeks.
Loans are paid into the account of beneficiaries. Unqualified candidates are given feedback.
Has disbursement started?
Yes we have disbursed over N1.9B and this is still ongoing.
Run your business, keep proper records, monitor sales and expenses to maximize profit and pay back the loan.
NOTE: The CBN-Certified Entrepreneurship Development Institute (EDI) training before loan disbursement is not free.The fee is #10.000.00