Do you have a farm or a small business that needs financing? In this article, you will learn everything you need to know about AGSMEIS Loan and get to know how you can get up to N10 million to finance your business.
Requirements
To qualify for the CBN Agri-business, Small and Medium enterprise Scheme (AGSMEIS) loan, you must meet the following requirements:
- Your business must be registered with CAC
- You will provide evidence of tax payments
- Your bank account(s) must have BVN.
- You will provide a letter of Introduction from your religious leader or local government chairman or your community leader.
- You must provide a letter of Guaranty from your guarantor.
- A proof or certification by an EDI showing that you have been trained for the loan.
Fill clearly the new form with all the details required , sign and get them authenticated by Economic Development Centre (EDC).
How to apply
The AGSMEIS which means Agri-business, Small, Medium scale Enterprise Scheme loan has the following applications procedures:
- The first step of AGSMEIS loan application is to under training with an Entrepreneur Development Centre (EDC).
- After the training, you will apply the loan through the EDC under which you were trained.
- The EDC will then send your application to CBN for processing.
- You will be invited for an interview regarding your business.
Those found worthy after the interview will be called and given the loan.
You can click the link to get started with the application process.
Interest Rate
The interest rate of the AGSMEIS loan is 5% per annum.
Other Popular Banks That Gives Loans In Nigeria:
- Fairmoney Loan
- Sterling Bank Loan
- Branch Loan
- Bank Of Industry Loan
- NYSC Loan
- Uba Loan
- Specta Loan
- C24 Loan
- One-fi
- Snapcredit Loan
Repayment
The repayment of the AGSMEIS loan is spread in the period of 7 years maximum. You are required to make monthly installment payments in which the interest is included until you pay all.
Pros & Cons
| Pros | Cons |
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Mobile App
N/A
Customer Care
You can write the customer service via the mail: info@nfmb.com.ng
| Official Website | www.nmfb.com.ng/sme |
|---|---|
| Contact Number | +2347041800003 |
Branches & Head Office
House 1, Plot 103 /104, Monrovia Street, Wuse 2 , Abuja
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