Application, Registration, Email Verification, Loan Status, and more for the NMFB Non-Interest Agsmeis Loan 2022.
How to Get a CBN Loan of up to 3 Million Naira Without Collateral
The Central Bank of Nigeria offers small enterprises up to N3 000 000 (three million naira) in interest-free loans under the Agribusiness / Small and Medium Business Investment Scheme (AGSMEIS).
Introduction
The program backs government initiatives that promote agribusiness, micro, small, and medium-sized firms (SMEs) as sources of long-term growth and employment.
Objectives of the scheme
Improve access to affordable and sustainable financing through agribusiness, micro, small and medium-sized enterprises (SMEs).
Create job opportunities in Nigeria.
Increase the management capacity of agricultural enterprises and SMEs to develop industries into large corporate organizations in line with the federal government’s agenda for real sector development and inclusive growth.
The right sector / business
- Agriculture and agro – processing
- Arts and entertainment
- Car services
- Fashion and sewing
- Catering and event organization
- Courier and delivery services
- Creative industry
- Clothing and textiles
- ICT
- Cottage industry
- The media
- Publications
- Telecommunications
- Hospitality
- Health services
- Welding and manufacturing
- Livestock
- Cosmetics, beauty and makeup
- Electrical and Electronics
- POP and tile laying
- Carpenter
- Masonry
- Manufacture of edging and poles
- Contours
Financial assistance will be provided for start-ups, business development, and the recovery of struggling businesses under this program. The following are the terms of the loan:
Amount of loan: up to #3,000,000
Interest rate: 5% for standard AGSMEIS and 0% for non-interest-bearing AGSMEIS.
Depending on the nature of the project / pregnancy, tanning can last up to 7 years.
Morgue: up to an 18-month principal and 6-month interest loan.
Certain requirements must be satisfied in order to receive an AGMEIS loan:
A CBN-certified Business Development Organization should train interested candidates (EDI)
Interested parties will submit an application for a loan through a CBN-accredited EDI.
The application will subsequently be forwarded to CBN for processing via NIRSAL MFB by EDI.
Individuals who are eligible for a loan will be contacted and a loan will be issued.
Fill out the form completely with the needed information, then sign and confirm the EDI.
Requirements at the time of application or prior to final approval / distribution
- B.V.N.
- CBN certified EDI certificate
- Details of two (2) guarantors
- Valid ID card
- Business plan submitted by EDI