The Agric Small and Medium Enterprise Scheme (AGSMEIS) is an initiative of the Central Bank of Nigeria. CBN AGSMEIS Loan 2020 application is currently ongoing.

With the CBN AGSMEIS Loan, you can access up to N10M at 5% per year from the Agric, Small and medium enterprise scheme (AGSMEIS), an initiative from Central Bank of Nigeria (CBN); this is without collateral.


What is AGSMEIS (Agric Small and Medium Enterprise Scheme) ?
AGSMEIS is an initiative of the Bankers’ Committee in a bid to support and complement the Federal Governments’ efforts at promoting Agri-businesses/Small and Medium Enterprises as a vehicle for sustainable economic development and employment generation.

AGSMEIS is a voluntary initiative of the Bankers’ Committee approved at its 331st meeting held on 9th February, 2017. The Scheme requires all banks in Nigeria to set aside 5% of their profit after tax (PAT) annually.

The initiative is to support the Federal Government’s efforts and policy measures for the promotion of Agricultural Businesses, Small and Medium Enterprises (SMEs) as vehicles for sustainable economic development and employment generation.

Objectives of the AGSMEIS
The objectives of the Scheme include :

To ensure Small and Medium Enterprises (SMEs)have access to finance
To generate much-needed employment opportunities in Nigeria
To develop agricultural value chain and ensure sustainable agricultural practices.
To boost the managerial capacity of Agri-Business/SMEs as pipelines of growing enterprises that can become huge corporate organizations.
CBN AGSMEIS Loan Activities
The activities covered by the Central Bank of Nigeria Agric, Small and Medium Enterprise Scheme, AGSMEIS Loan includes;

Businesses across the agricultural value chain covering inputs supply, production, storage, processing, logistics and marketing. MSMEs in the real sector including manufacturing, mining and petrochemicals.
MSMEs in the service sector including information and communication technology (ICT) and the creative industry. Other activities as may be determined by the Bankers’ Committee from time to time.

CBN AGSMEIS Loan Eligibility
MSMEs in the following sectors are eligible:



Agricultural businesses,
Education,
Health,
Services (Hospitality, Restaurants, Catering, Services, etc),
ICT,
Manufacturing/Production,
Mining,
Creative Industry (Fashion, Design, Crafts, Entertainment, etc),
etc

CBN AGSMEIS Loan Conditions
Now to access AGSMEIS loan, there are some conditions that must be met.

Interested applicant must have been trained by an Entrepreneur Development Institute (EDI)
Interested applicant will apply for loan via an EDI
The applications will then be sent to CBN for processing
Applicants will be called for an interview regarding his/her business.
Those qualified will be contacted and given the loan.
Fill clearly the new form with all the details required , sign and get them authenticated by EDC – http://www.edcsouthwest.org/
Note: Maximum loan is 10million; Interest rate is 5% per annum; Tenor is 7 yrs and Moratorium is 18 months.

Requirements for CBN Loan Approval of Application and Disbursement of Funds.
The following are the Requirements necessary either during application or before final approval of the CBN loan application and final disbursement of funds to an applicant.

Registered business with CAC
Evidence of tax payments
BVN
Letter of Introduction
Letter of Guaranty
Certification by an EDI
Passport photo of you and guarantor
Valid ID card

Who Can Write Letter of Introduction for CBN AGSMEIS Loan?
* Your Pastor

Read more https://www.jobly.com.ng/cbn-agsmeis-loan-2020-without-collateral/

AGSMEIS Loan For SME’s and Agricultural Businesses

click here for full details >>> https://www.bestnigeriabusinessplan.com.ng/how-to-access-cbn-agsmeis-loan-for-smes-and-agricultural-businesses/