Apply now for CBN’s AGSMEIS Loans 2024 with no Collateral. Are you interested in starting a small or medium-sized business or are you in the agricultural industry? If so, a fast AGSMEIS Loan might help you establish yourself and stretch out your payments. The AGSMEIS details and quick access to their loan are provided in this article.
The Nigerian Microfinance Bank (NMB) and the Central Bank of Nigeria (CBN) jointly support the NIRSAL AGSMEIS lending program, which provides low-interest loans to the general public. In essence, this loan provides support financially in the event of a pandemic.
Essentially, the AGSMEIS (Agri-corporation/Small and Medium Enterprise Investment Scheme) is a corporation designed to support policies and regulations of the federal government that promote the expansion of small and medium-sized enterprises as well as agricultural businesses. Through this program, as a business owner, you can quickly and without collateral get a loan to expand your business.
Here is a list of the important documents you need to apply for this loan:
Keep in mind that you must have finished your course from any Enterprise Development Institute with NIRSAL certification in order to be eligible for the AGSMEIS loan. After that, you can finish filling out the required form. This form will be sent to the CBN by your training institution. After that, CBN will ask your bank to confirm the details of your account while continuing to evaluate you.
The several businesses that qualify for this loan are listed below:
If you are skilled in any of the above-mentioned business categories, you can apply by following these simple instructions:
As an alternative, you can seek advice on how to proceed from any of the EDIs recognized by the NMFB.
Interest Rate For AGSMEIS Loan
Currently, the AGSMEIS loan has an interest rate of about five percent (5%) annually. As a result, you are required to repay both the principal and interest on your loan each year.
It’s easy to find out if AGSMEIS has accepted your loan application. You will receive a text message with a direct connection to the NMFB portal after submitting your loan application. Take this action:
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