AGSMEIS Loan 2021:www.agsmeisapp.nmfb.com.ng (Six Stages to Apply)
AGSMEIS Loan 2021:www.agsmeisapp.nmfb.com.ng (Six Stages to Apply): Federal Government Microfinance Bank (Nirsal) has launched a new website portal where registration on Agri-Business Small and Medium Enterprise Investment (AGSMEIS) can be processed
The newly formed portal https://agsmeisapp.nmfb.com.ng will receive all former applications done on the defunct portal, the new web portal came into action as a result of technical hitches faced by the previous portal
All previous applications are still intact and carefully migrated with an high bread system, such that applicants information are not distorted, applicant can easily tract all their application with ease at no distant time
“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”
“One can access up to N10 million long term loan without Collateral at 5% interest per Annum till 28th February, 2022, then 9% interest rate for the rest of the years”.
Eligibility for Agri-Business/Small and Medium Enterprise Investment Scheme (AGSMEIS)
Information & Communication Technology
Media & Publishing
Catering & Event Management
Creative & Art industries
- Apparel & Textile
- Arts & Entertainment
- Fashion, Beauty
Industrial & Manufacturing
Agriculture & Allied Processing
How To Get Agri-Business/Small and Medium Enterprise Investment Scheme (AGSMEIS) Loan
Stage One- Get Trained
All applicants who wish to apply for the AGSMEIS Loan must firstly create a Profile by Registrating through the application portal https://agsmeisapp.nmfb.com.ng.
Registering through this portal does not mean one has applied for the AGSMEIS Loan.
“After the Registration, one must be trained by a CBN Approved Entrepreneurship Development Institute (EDI) which must be chosen by the applicant during Registration or later.
The Training Fee is N10, 000. Why? Because they are CBN Approved but are independent units doing their own businesses.
Some EDI offer more Trainings than just for the purpose of the AGSMEIS Loan Scheme. CBN however approved the N10, 000 Training Fee for all State EDIs and no extortion is allowed.
The EDI can assist you in developing a Business Plan that suits your Business of choice at a service fee usually N5,000 for the purpose of the AGSMEIS Loan Scheme.
Also, the EDI will help you apply for the Loan by uploading your Business Plan, monitoring and ‘tracking’ your loan application.
Many applicants do not actually know this and many have been raising alarm over approval. This service also comes at a fee of usually N10, 000, depending on the EDI”
Stage Two-: Apply For Loan
The Entrepreneurship Development Institute (EDI) guides and assists you in getting all necessary documents required to secure the loan.
Stage Three-: Receive Funds
Loans are paid into the account of beneficiaries. Unqualified candidates are given feedback.
Stage Four- Get Business Support Services
The Entrepreneurship Development Institute assists you to implement business plan and provide business support services commercially.
Sell products and services to pay back loan and make profit.
Run your business, keep proper records, monitor sales and expenses to maximize profit and pay back the loan.
This loan scheme does not require a collateral with interest rate at five percent (5%) per annum.