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.
The scheme does not require a collateral. However, it has an interest rate of 9% per annum. This loan scheme has been designed to be accessible. Therefore, the entire process is automated.
From application to disbursement, it takes six (6) to eight (8) weeks to receive the funds.
The following sectors are eligible for the loan;
1. Creative and Arts Industries
- Fashion, Beauty
- Apparel & Textile
- Arts & Entertainment
2. Industrial & Manufacturing
- Agriculture & Allied Processing
3. Information & Communication Technology
- Media & Publishing
Steps to Apply
The following steps are necessary for a successful application;
Step 1: Get Trained
This is an important step. In order to move to the second step of the loan application, it is essential that you attend a compulsory training with a CBN certified Entrepreneurship Development Center.
Step 2: Apply for Loan
The training received from the Entrepreneurship Development Center is necessary because it will it will help you in getting and arranging all the documents required for a successful loan application.
Step 3: Receive Funds
Successful applicants will receive the loans in their accounts.
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.
Click here to APPLY NOW
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