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AGSMEIS Loan Application Form 2022 – Portal Reopens for New Applicants

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AGSMEIS Loan Application Form 2022

AGSMEIS Loan Application Form 2022 – Portal Reopens for New Applicants

Federal Microfinance Bank (Nirsal) has launched a new website portal where registration can be performed with Agri-Business Small and Medium Enterprise Investment (AGSMEIS).

Please note that AGSMEIS loan applications are still ongoing. And we are here to show you how to apply for a loan. With AGSMEIS you can get a loan of up to 10 million N10 million with only a 5% interest rate without a deposit.

Before we continue, if you have a business and need a Federal Government Bussiness Grant to boost your business, then click HERE to see Federal Government Grants that are currently ongoing to apply.

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About AGSMEIS Loan

The Agribusiness/Small and Medium Enterprises Investment Plan is an initiative to support the efforts and policies of the Federal Government to promote agribusiness and small and medium enterprises (SMEs) as a guideline for sustainable growth and job creation.

Please note that AGSMEIS loan applications are still ongoing. And we are here to show you how to apply for a loan. With AGSMEIS you can get loan of up to 10 million N10 million with only a 5% interest rate without a deposit.

Before we show you how to apply for AGSMEIS loan, let’s understand more by answering some quick questions.

Are you in agribusiness? Do you want to start your own small/medium business? if so Relax, this article is for you. Don’t forget to read to the end. so that you understand What is the Agri-Business / MSME Investment Program (AGSMEIS) and how to apply it?

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We are excited to announce to the general public and stakeholders that the portal Agri-Business/MSME Investment Scheme (AGSMEIS) is now open to Nigerians.

You may also want to read How To Easily Repay Your Nirsal Microfinance Bank (NMFB) AGSMEIS Loan

AGSMEIS Loan Requirements

  • Duly completed application form.
  • Bank Verification Number (BVN).
  • Certificate of Training from a recognized Entrepreneurship Development Institution (EDI) or evidence of membership in an organized private sector
  • Recommendation letter from one of the following: Priest, the village head, district chief, orthodox ruler. Senior civil servants, etc. (for individuals/small enterprises only)
  • Evidence of business name registration or company registration certificate and annual filing (if applicable) as required by the Company and Affiliate Act (1990).
  • Tax Identification Number (TIN) and current withholding certificate TCC), if applicable.
  • To qualify for access to this fund You must have received training from the Enterprise Development Institute, after which you will need to fill out a form. They will send your form to the CBN.
  • CBN will ask your bank to verify your account details. CBN will then perform its own assessment.

Features of AGSMEIS?

  • Interest Rate: 5%
  • Tenor: 7 years
  • Moratorium: Maximum of 18 months on Principal and 6 months on Interest

AGSMEIS Loan Eligibility

Creative & Art Industries

  • Fashion, Beauty
  • Apparel & Textile
  • Arts & Entertainment

Industrial & Manufacturing

  • Agriculture & Allied Processing
  • Automobiles
  • Information & Communication Technology

Telecommunication

  • Media & Publishing
  • Hospitality
  • Catering & Event Management

LOAN Application Process – AGSMEIS Loan Application Form 2022

Step 1: Get Trained

Attend compulsory training with a NIRSAL MFB certified Entrepreneurship Development Institute (EDI).

Step 2: Apply For Loan

Kindly visit https://agsmeisapp.nmfb.com.ng/ and create an account by clicking on ‘Apply now’ as an applicant, validate your BVN and select a NIRSAL MFB certified Entrepreneurship Development Institute (EDI).

Step 3: Receive Funds

Loans are paid into the account of beneficiaries, so you will make sure you submit your correct account number. Unqualified candidates are given feedback.

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Step 4: Get Business Support Service

The Entrepreneurship Development Institute assists you to implement a business plan and provide business support services commercially

Step 5: Make Sales

Sell products and services to pay back loans and make a profit.

Step 6: Repay Loan

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

How long before I receive funds?

This loan scheme is designed to be easily accessible. The entire process is automated. From application submission to disbursement should take about eight(8) weeks.

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AGSMEIS Loan Application Form 2022

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