Get all the info you need concerning the AGSMEIS, Agri-Business CBN Loan Registration 2020/2021 here. You can get a loan as low as 50, 000 Naira or as high as 10 million Naira here. We will also be showing you how to successfully apply for the AGSMEIS, Agri-Business CBN Loan for free. This post contains the correct and updated portal for loan application.
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Agri-Business, Small and Medium Enterprise Investment Scheme (AGSMEIS) Loan
The Agri-Business, Small and Medium Enterprise Investment Scheme (AGSMEIS) Loan Application 2020/2021 is currently ongoing and all interested persons can apply now.
What is CBN AGSMEIS Loan?
- The CBN would create a Fund to be known as ‘AGSMEIS Non-Interest Fund’ that will be domiciled in a dedicated account with the apex bank.
- Eligible activities under the Scheme are businesses across the agricultural value chain, covering production, inputs supply, storage, processing, logistics and marketing.
- Others included MSMEs in the real sector including manufacturing, ICT, mining, petrochemicals and the creative industry as well as other activities as the CBN may determine from time to time.
How to Apply for CBN AGSMEIS Loan
The application of the Fund shall be categorized into three broad components. They are debt, equity and developmental components.
- The debt component shall constitute 50% of the fund which shall be disbursed as financing to eligible businesses through Non-Interest Deposit Money Banks.
- Asset purchased shall be registered with the National Collateral Registry (NCR).
You Can Also – Apply for the National Youth Investment Fund 2020
Highest Amount one can get from CBN AGSMEIS Fund Loan
The financing limit for CBN AGSMEIS fund loan is N10,000,000 (Ten million Naira)
Interest rate of CBN AGSMEIS Fund Loan
The mark up interest per annum is 5%
Duration of CBN AGSMEIS Fund Loan
Tenor: Up to 7 years (depending on the nature/gestation period of the project)
Moratorium: Maximum of 18 months for principal and 6 months on mark-up.
Documentation Requirements for CBN AGSMEIS Loan Application
- 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 association.
- Letter of Introduction from any of the following: Clergy, Village Head, District Head, Traditional Ruler, senior civil servant etc (for individuals, microenterprises only).
- 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).
How to Apply/Register for CBN AGSMEIS Fund Loan
All interested and qualified candidates can apply by Clicking on any of the link below
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