Hello (prospective) business owners. This thread is on how to access loan via a scheme called Agric-Business/Small and Medium Enterprises Investment Scheme (AGSMEIS)

Please note: it is not limited to Agriculture alone and it takes care of both start ups and existing businesses

Before going into details on how loan can be accessed via AGSMEIS, I will do an introduction of the scheme, aims and objectives of the Scheme also state the activities covered by the Scheme.

AGSMES 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.

The objectives of the Scheme includes:

To ensure access to finance for Small and Medium Enterprises (SMEs), as these are the engine of growth of the Nigerian economy.

To generate much-needed employment opportunities in Nigeria.

To develop agricultural value chain and ensure sustainable agricultural practices.

Boost the managerial capacity of Agri-Business/SMEs as pipelines of growing enterprises that can become huge coporate organizations.

Activities covered include:
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.

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

1)interested applicant must have been trained by an Entrepreneur Development Institute (EDI)

2)interested applicant will apply for loan via an EDI

3)the applications will then be sent to CBN for processing

4)applicants will be called for an interview regarding his/her business.

5)those qualified will be contacted and given the loan.

NOTE: LOANS MAY NOT COME IN CASH, RATHER NEEDED EQUIPMENTS WILL BE PROVIDED WHERE NECESSARY AND CASH WHERE NECESSARY (IN THE CASE OF WORKING CAPITAL)

For the loan repayment, maximum of 18 months moratorium will be given on the loan principal and 6 months on the interest of the loan.
Interest rate is at 5% per annum payable within 7years. Loan limit is 10million naira

For those that are self trained or already in business, you can approach an EDI, tell them you want to apply for AGSMEIS loan and they will tell you what to do. Incase of any doubt, please visit any CBN branch nationwide, go to Development Finance Office and ask questions if you have any.

Please be informed that whatever state your business is located is where you are eligible to apply as there will be periodic follow up.

Spoke person, source pls

I just learnt that if you have earned a certificate from an EDI previously perhaps through the YES-P or BOI schemes, you can present the certificate at the EDI and move on with the processing.

This can be of some importance as Sterling bank is charging #7,500 for the training they will be providing this month, a training which I believe is supposed to be free of cost considering the other requirements they will put the applicants through further down the application process and for the fact that the funds provided will not be a grant but a loan that will be paid back with interest.

laivwire:
I just learnt that if you have earned a certificate from an EDI previously perhaps through the YES-P or BOI schemes, you can present the certificate at the EDI and move on with the processing.

This can be of some importance as Sterling bank is charging #7,500 for the training they will be providing this month, a training which I believe is supposed to be free of cost considering the other requirements they will put the applicants through further down the application process and for the fact that the funds provided will not be a grant but a loan that will be paid back with interest.

I wish I knew this I just paid a whole 10k for the programme here in Ikeja. I wish I had read this earlier I'm really pained.

Is this thing real? Cos BOI was very hard to Access and Yes P was a failure. Is this one real?

dyydxx:

I wish I knew this I just paid a whole 10k for the programme here in Ikeja. I wish I had read this earlier I'm really pained.

Is this thing real? Cos BOI was very hard to Access and Yes P was a failure. Is this one real?

I'll like to believe its real with the strict process being proposed in the application process. Additionally, its campaign time, the government will want to use this as a tool and its a loan, only the interest rate, moratorium and collateral terms make it different from a typical bank loan.

laivwire:

I'll like to believe its real with the strict process being proposed in the application process. Additionally, its campaign time, the government will want to use this as a tool and its a loan, only the interest rate, moratorium and collateral terms make it different from a typical bank loan.

apart from the training certificate, what are the other requirements?

This should be on front page not cleavage bearing, snake , tonto dike etc

Lalastic and seun

Please did anyone apply through union bank?

Pls any successful applicants?

Pls kindly put this on front page. Seun I take God beg u

Did my training in Kaduna with Sterling bank and till date, we don't know what is happening. No loan forms...nothing. we just dey wait.

issorit

Very strict process

Ok

I have been seeing flyers of this project but I want to ask, is it really true? as in, who has benefited from it?

Korofoh:
Hello (prospective) business owners. This thread is on how to access loan via a scheme called Agric-Business/Small and Medium Enterprises Investment Scheme (AGSMEIS)

Please note: it is not limited to Agriculture alone and it takes care of both start ups and existing businesses

Before going into details on how loan can be accessed via AGSMEIS, I will do an introduction of the scheme, aims and objectives of the Scheme also state the activities covered by the Scheme.

AGSMES 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.

The objectives of the Scheme includes:

To ensure access to finance for Small and Medium Enterprises (SMEs), as these are the engine of growth of the Nigerian economy.

To generate much-needed employment opportunities in Nigeria.

To develop agricultural value chain and ensure sustainable agricultural practices.

Boost the managerial capacity of Agri-Business/SMEs as pipelines of growing enterprises that can become huge coporate organizations.

Activities covered include:
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.

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

1)interested applicant must have been trained by an Entrepreneur Development Institute (EDI)

2)interested applicant will apply for loan via an EDI

3)the applications will then be sent to CBN for processing

4)applicants will be called for an interview regarding his/her business.

5)those qualified will be contacted and given the loan.

NOTE: LOANS MAY NOT COME IN CASH, RATHER NEEDED EQUIPMENTS WILL BE PROVIDED WHERE NECESSARY AND CASH WHERE NECESSARY (IN THE CASE OF WORKING CAPITAL)

For the loan repayment, maximum of 18 months moratorium will be given on the loan principal and 6 months on the interest of the loan.
Interest rate is at 5% per annum payable within 7years. Loan limit is 10million naira

For those that are self trained or already in business, you can approach an EDI, tell them you want to apply for AGSMEIS loan and they will tell you what to do. Incase of any doubt, please visit any CBN branch nationwide, go to Development Finance Office and ask questions if you have any.

Please be informed that whatever state your business is located is where you are eligible to apply as there will be periodic follow up.

I am a Poultry farmer in Akwa Ibom state. I will want you to advice me on how to go about this loan having read this.
I read similar post on HOW TO GET THE AGSMEIS LOAN on https://trendinglots.com/the-precise-solution-to-get-loan-of-ten-million-naira-loan-from-the-cbn-agsmeis-to-launch-or-grow-your-business/
I don't know how real the above facts are. Please i need your response

princemose:
I am a Poultry farmer in Akwa Ibom state. I will want you to advice me on how to go about this loan having read this.
I read similar post on HOW TO GET THE AGSMEIS LOAN on https://trendinglots.com/the-precise-solution-to-get-loan-of-ten-million-naira-loan-from-the-cbn-agsmeis-to-launch-or-grow-your-business/
I don't know how real the above facts are. Please i need your response

Go to NATIONAL DIRECTORATE OF EMPLOYMENT OR SMEDAN IN YOUR STATE AND MAKE ENQUIRIES

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/

Impressive will make enquiries

kokozain:
Pls kindly put this on front page. Seun I take God beg u

who has benefited from thisloan pls help put other people through