Apply for N10 million CBN AGSMEIS 5% Loan : Looking for funding for your SME or agricultural business in Nigeria? Check out the Central Bank of Nigeria’s AGSMEIS loan scheme, offering loans of up to N10 million at a 5% interest rate per annum.
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Small and Medium Enterprises (SMEs) and agricultural businesses in Nigeria can now access up to N10 million loan through the Central Bank of Nigeria (CBN) Agric-Business/Small and Medium Enterprises Investment Scheme (AGSMEIS) at an interest rate of 5% per annum.
The activities covered by AGSMEIS include businesses across the agricultural value chain, MSMEs in the real sector (including manufacturing, mining, and petrochemicals), and MSMEs in the service sector (including ICT and the creative industry). The Bankers’ Committee reserves the right to include other activities at their discretion.
Requirements for AGSMEIS Loan Application
To apply for the AGSMEIS loan, applicants must meet the following requirements:
• Have a registered business with CAC.
• Provide evidence of tax payments.
• Have a BVN.
• Provide a letter of introduction.
• Provide a letter of guaranty.
• Obtain certification by an EDI.
• Submit passport photos of both the applicant and the guarantor.
• Present a valid ID card.
The guarantor for the loan can be a friend or spouse, while the letter of introduction can be written by any of the following: Pastor, Chief Imam, LGA Chairman, CDA Chairman, Village Head, Senior Civil Servants Level 14 above, or MD of Blue Chip Companies.