AGSMEIS CBN Loan 2021/2022 Covid-19|Nirsal|Apply for CBN AGSMEIS Loan Registration portal
AGSMEIS stands for Agric-Business Small and Medium Enterprises Investment Scheme, its being piloted by the Central Bank Of Nigeria to help mitigate the impact of Covid-19 on small businesses located in Nigeria.
AGSMEIS is simply an intervention loan that comes with almost a free Interest loan that targets households and businesses that has been badly hit by COVID-19 Pandemic..
Eligibility for AGSMEIS Loan Application 2021/2022
- Beneficiaries of AGSMEIS Loan are meant to be Nigerian.
- You should own an already existing SME business before attempting to apply for AGSMEIS Loan.
- Businesses eligible for this loan should fall in the Agricultural sector, Information and Communication (ICT), Manufacturing sector etc.
- Applicant that have completed their training from Entrepreneurship Development Institution (EDI) and they are expected to show or prove that they are member.
- Existing business should be registered with the Corporate Affairs Commission or should have a certificate of incorporation.
- Another requirement is for applicant to have a BVN number for easy verification by CBN.
How the CBN AGSMEIS Loan Application works 2021/2022
- Get Trained – identify the nearest CBN certified Entrepreneurship Development Center (EDC), get registered with them, attend their training so as to gain more insight on how to run a successful business.
- Apply For Loan – apart from learning how to run a business The Entrepreneurship Development Institute (EDI) is there to give you full training on the steps to take so as to get access to the loan.
- Receive Funds – those who meet all requirements will receive a loan which will be paid into their bank account directly.
- Get Business Support Services – Getting registered with the The Entrepreneurship Development Institute is a key to getting the loan. Apart from this, Entrepreneurship Development Institute also run other services like teaching you the step to implementing your business plan.
- Make Sales – you get your business running, identify your target market, make sales.
- Repay Loan – the loan is not free, IT comes with a 9% interest rate.
Documentation Requirements for AGSMEIS Loan
- You should get the application form,fill all necessary information..
- Your business should be registered or incorporated.
- You need a bank verification number senior civil servant, Village Head,Clergy, Traditional Ruler and District Head,
- Provide Certificate of Training from any Entrepreneurship Development Institution (EDI) recognised by CBN.
You should get a reference letter from
How do I access the AGSMEIS Loan?
The first step to take is to get registered and trained by CBN-Certified Entrepreneurship Development Institute (EDI). All the process to get your loan will be made open to your by EDI.
Why it matters with AGSMEIS Loan
The Covid-19 pandemic is really hitting hard on the Nigerian economy, the impact is so felt on every facet of the economy. The oil sector is the most badly hit, this has plunge Government revenues to an all time low.
The present administration now focuses on diversification of the economy which will create more jobs for those displaced from their jobs and also for those who have been unemployed. If all this is achieved the economy will be on a sustainable path to recovery, there will be increase in income and more revenue for the Government.