Process/Requirements/Eligibility/Frequently Asked Questions on AGSMEIS

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Process/Requirements/Eligibility/Frequently Asked Questions on AGSMEIS

PROCESS

Get Trained

It is mandatory for all applicants to attend training with a CBN certified Entrepreneurship Development Institute (EDI), they have centers spread across the country.

Apply for Loan

The Entrepreneurship Development Institute (EDI) will guides and assists you in applying for the loan by getting all necessary documents required for the processing of the loan

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Receive Funds

The Loan fund is paid into the account of beneficiaries. While unqualified candidates are given feedback.

Get Business Support Services

The Entrepreneurship Development Institute (EDI) will assist you to implement the business plan drawn and provide business support services commercially.

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Make Sales

You sell your products and services to pay back loans and make profit, beneficiaries are expected to run the business by keeping proper records, monitor sales, and expenses to maximize profit and pay back the loan

See 433,000 Nigerians, Businesses To Get N50,000, N30,000 Each – FG

Requirements

• Evidence of registration of business name or certificate of incorporation and filing of annual returns (where applicable) in compliance with the provisions of the Companies and Allied Matters Act (1990).

•  Tax Identification Number (TIN) and current Tax Clearance Certificate TCC) where applicable.

•  To qualify to access this fund, you need to have been trained by an Enterprise Development Institute after which you will fill the form. They will submit your form to CBN.

•  CBN will ask banks to verify your account details and then CBN proceeds to conduct its own assessment. 

Duly completed application form.

•  Bank Verification Number (BVN).

•  Certificate of Training from recognized Entrepreneurship Development Institution (EDI) or evidence of membership of organized private sector

•  Letter of Introduction from any of the following, Clergy, Village Head, District Head,

Eligibility for AGSMEIS Loan

Businesses in the following industry are eligible for the AGSMEIS Loan:

•  Service sector including Information and Communication (ICT) and the Creative Industry.

•  Other businesses as determined by the Central Bank of Nigeria (CBN).

•  Agricultural sector.

• Real sector including Manufacturing, mining, and petrochemicals.

PROCESS

Get Trained

It is mandatory for all applicants to attend training with a CBN certified Entrepreneurship Development Institute (EDI), they have centers spread across the country.

Apply for Loan

The Entrepreneurship Development Institute (EDI) will guides and assists you in applying for the loan by getting all necessary documents required for the processing of the loan

Receive Funds

The Loan fund is paid into the account of beneficiaries. While unqualified candidates are given feedback.

Get Business Support Services

The Entrepreneurship Development Institute (EDI) will assist you to implement the business plan drawn and provide business support services commercially.

Make Sales

You sell your products and services to pay back loans and make profit, beneficiaries are expected to run the business by keeping proper records, monitor sales, and expenses to maximize profit and pay back the loan

Requirements

• Evidence of registration of business name or certificate of incorporation and filing of annual returns (where applicable) in compliance with the provisions of the Companies and Allied Matters Act (1990).

•  Tax Identification Number (TIN) and current Tax Clearance Certificate TCC) where applicable.

•  To qualify to access this fund, you need to have been trained by an Enterprise Development Institute after which you will fill the form. They will submit your form to CBN.

•  CBN will ask banks to verify your account details and then CBN proceeds to conduct its own assessment. 

Duly completed application form.

•  Bank Verification Number (BVN).

•  Certificate of Training from recognized Entrepreneurship Development Institution (EDI) or evidence of membership of organized private sector

•  Letter of Introduction from any of the following, Clergy, Village Head, District Head,

Eligibility for AGSMEIS Loan

Businesses in the following industry are eligible for the AGSMEIS Loan:

•  Service sector including Information and Communication (ICT) and the Creative Industry.

•  Other businesses as determined by the Central Bank of Nigeria (CBN).

•  Agricultural sector.

• Real sector including Manufacturing, mining, and petrochemicals.

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