AGSMEIS: FG dishes out loan to thousands of Applicants - 27th July, 2021

The Central Bank of Nigeria, Tuesday, commenced massive disbursement of the Agri-Business/Small and Medium Enterprise Investment Scheme Loan, popularly known as AGSMEIS Loan, to thousands of applicants across the federation.

Many applicants of the Scheme who had completed all the processes for accessing the fund, comfirmed to have recieved their loan credited into their Bank Accounts.

Applicants of the Loan Scheme are encouraged to check their loan status by visiting https://agsmeis.nmfb.com.ng, entering their Bank Verification Number (BVN) and clicking on the "Validate" button.

The Agri-Business/Small and Medium Enterprise Investment Scheme (AGSMEIS Loan) is an initiative to support the Federal Government's efforts and policy measures for the promotion of agricultural businesses and small/medium enterprises (SMEs) as vehicles for sustainable economic development and employment generation.

In the scheme, an interested applicant can access up to N10 million long term loan without Collateral at 5% interest per Annum till 28th February, 2022, then 9% interest rate for the rest of the duration. It usually comes with 12 Months Moratorium.

How to access the AGSMEIS Loan

With the launch of a new website https://agsmeisapp.nmfb.com.ng by the Nirsal Microfinance Bank, applicants can easily Register and track/monitor their progress in their dashboards even with a simple Smartphone.

The basic and most assuring step in accessing the AGSMEIS Loan is to register with a CBN accredited Entrepreneurship Development Institute (EDI) in your State. The rest of the steps can be completed through the assistance and services of the EDI.

Registering for the AGSMEIS Loan Scheme, choosing an EDI, completing the requisite process and more are simple, and have been detailed in the article below:

NMFB continues with AGSMEIS, launches new website | How to access the Loan

The AGSMEIS just like other CBN Intervention Programmes such as COVID-19 Targetted Credit Facility, the Nigeria Youth Investment (NYIF) and Anchor Borowers Programme have remained the most accessible and most targeting approach in promoting the Micro, Small and Medium industries in Nigeria through soft loans.

Read moreAGSMEIS/COVID-19 TCF: Number of beneficiaries according to Geopolitical Zones

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