Agriculture

How To Apply For CBN Agric Loan – AGSMEIS Loan | Agric Loan Without Collateral
How To Apply For CBN Agric Small And Medium Enterprise Scheme Loan – a guide to apply for AGSMEIS Loan – Agric Loan Without Collateral can be accessed below.
BrandNewsDay reports that the Agric Small and Medium Enterprise Scheme (AGSMEIS) is an initiative of the Central Bank of Nigeria (CBN) – CBN Agric Loan – AGSMEIS Loan– to empower agric businesses across the country.
This writer has compiled comprehensive detail on how you can apply for the ongoing CBN AGSMEIS loan in Nigeria.

CBN AGSMEIS loan application form 2021 – Agricultural Credit Guarantee Scheme Fund (ACGSF)

CBN AGSMEIS loan application for 2021 is still ongoing, and we are here to show you how to apply for the loan. With AGSMEIS, you can access up to a N10 million loan from CBN. The interest rate is just 5% without collateral.

Advertisement

Before we proceed to show you how to apply for a CBN AGSMEIS loan, let’s give you more clarifications by answering some pressing questions.

About AGSMEIS? CBN Loan Application Form 2022

Agric Small and Medium Enterprise Scheme (AGSMEIS) is an initiative of the Central Bank of Nigeria (CBN) in a bid to complement the Federal Governments’ efforts at promoting Agric businesses in Nigeria (both small and medium enterprises) as a vehicle for sustainable economic development. The scheme is a voluntary initiative of the Bankers’ Committee which was approved at its 331st meeting held on February 9, 2017.

The scheme – CBN AGSMEIS loan – mandated all banks in Nigeria to set aside 5% of their annual profit after tax (VAT). The primary aim of the initiative is to support the government’s efforts and policy measures toward the promotion of Agric businesses in the country.

Advertisement
READ: Stanbic IBTC Pension Managers Champions Nigerian Art With ART X Lagos Sponsorship

What is the aim of the Agric, Small and Medium Enterprise Scheme (AGSMEIS)?

CBN AGSMEIS loan – CBN Agric Loan

The objectives of the scheme are to ensure;

  • Small and medium enterprises have access to finance.
  • Create employment opportunities in Nigeria.
  • Development of agricultural value and sustainable agric practices.
  • Boost the managerial capacity of Agric businesses for national development.

List of sectors eligible for CBN AGSMEIS loan

CBN MSMEs eligible sectors include;

  • Agricultural businesses
  • Health
  • ICT,
  • Education
  • Manufacturing/Production,
  • Services (Hospitality, Restaurants Catering, Services)
  • Mining,
  • Creative Industry (Fashion, Design, Crafts, Entertainment)
  • Others

CBN AGSMEIS Loan Conditions

Here are conditions that must be met before you can access CBN AGSMEIS;

  • Applicant must have been trained by an Entrepreneur Development Institute (EDI)
  • Must apply for the loan through EDI, and from there the applications will be sent to CBN for processing.
  • Applicants will be called for an interview regarding his/her business, and those qualified will be contacted and given the loan.

Requirements for CBN AGSMEIS loan

Below are the loan requirements for approval and disbursement of funds to applicants;

  • Businesses must be registered with Cooperate Affair Commission (CAC).
  • Must provide evidence of tax payments
  • Bank Verification Number (BVN)
  • Letter of Introduction
  • Valid government-issued ID card
  • Certification by an EDI
  • Passport photo of applicant and guarantor
  • Letter of Guaranty

Who can write a letter of introduction for the CBN AGSMEIS loan?

Any of the following can write the letter:

  • Chief Imam
  • LGA Chairman
  • Village Head
  • Your Pastor
  • CDA Chairman
  • Senior Civil Servant (above level 14)

AGSMEIS loan interest rate and duration

  • The loan interest rate is 5% for the first five years. Example: If you obtain a N1million loan, you will pay back N1million + N50,000 throughout the duration of the loan.
READ: Top Reasons FUZE Talent Show 3.0 Will Blow Your Mind!

How to apply for CBN AGSMEIS loan -Agric Loan Without Collateral

Below are steps to apply for CBN AGSMEIS loan;

  1. Apply for loan at EDI
    Apply through Entrepreneurship Development Institute (EDI); they will help you to secure the loan.
  2. Apply as applicable
    To apply as an individual applicant, kindly click here, to fill out the application form.
  3. Receive funds
    Loans are paid into the bank account of the beneficiaries.

List of CBN approved EDC centres in Nigeria

Below is the list of CBN EDC centres in Nigeria and their addresses;

  1. CBN-EDC, Ibadan (South West)
    Their address is Old SDSTC (Oyo Oodua Skill Acquisition Centre Premises), Samonda, along Sango-UI Road, Ibadan, Oyo State, Nigeria. You can contact them via their website at www.edcsouthwest.org.
  2. CBN-EDC, PortHarcourt (South-South)
    Their web address is www.ssedc.org. The office address is at 30 Trans-Woji Road, Grace plaza, by Slaughter Bridge Woji Town, Port Harcourt, Rivers State.
  3. CBN-EDC, Maiduguri (North-East)
    The office address is Old Informatics Institute, Njimtillo, Kano Road, Maiduguri, Borno State. Website is edcnortheast.com.ng
  4. CBN-EDC, Kano (North West)
    The address is Murtala Muhammed Library Complex, Kano, Kano State.
  5. CBN-EDC, Makurdi (North Central)
    Address: Off Jonah Jang Crescent, Near Federal Secretariat, Makurdi, Benue State.
  6. CBN-EDC, Minna (North Central)
    Address: Minna Innovation Institute, Behind Niger State Sharia Commission, Justice Ndajiwo Drive, Minna, Niger State.
  7. CBN-EDC, Enugu (South East)
    Address: Ebenezer Villa Suite 8, Ogenyi Close, Off Cornerstone Avenue, Off Nike Lake Resort Road, Enugu, Enugu State.

Let’s put this to an end, nonetheless, you can get more EDC addresses and contact by visiting https://www.boi.ng/edcpartners.

Facebook Comments
Brand News Day

Share
Published by
Brand News Day
Tags: agric loan application portalAgric Loan Without CollateralAGSMEIS Loanbank of agriculture loan 2021CBN Agric Loancbn agricultural grants in nigeria 2021CBN AGSMEIS loan application for 2021cbn loan application form 2021cbn loan application form 2022cbn loan application portal 2021CBN Loan Newscbn loan without collateralEntrepreneurship Development Institutefgn agricultural loan.com. apply nownirsal agric loannirsal/cbn loanww.cbn.gov.ng loan applicationwww.cbn.gov.ng loan application formwww.cbn.gov.ng portal
3 years ago

Recent Posts

Bad governance: Recreating Nigeria To Avert Collapse

Michael Owhoko, Ph.D The root cause of Nigeria’s problem is, unarguably, an inappropriate system of…

1 day ago

Top Reasons FUZE Talent Show 3.0 Will Blow Your Mind!

Stanbic IBTC Pension Managers has launched the third edition of their highly anticipated FUZE Talent…

1 day ago

Stanbic IBTC Launches DiSEP 4.0, Empowering Nigerian Youths With Cutting-edge Digital Skills

Stanbic IBTC Holdings, a member of Standard Bank Group, has unveiled the fourth edition of…

1 day ago

Stanbic IBTC Pension Managers Champions Nigerian Art With ART X Lagos Sponsorship

Stanbic IBTC Pension Managers has again made a significant mark on Nigeria's cultural landscape by…

1 day ago

NOVA Bank In Early Crisis As Pioneer MD, Wale Adedeji ‘Exits Ship’

NOVA Bank, one of the latest commercial banks in Nigeria, may be experiencing a major…

1 week ago

Rite Foods Partners With Sterling One Foundation For Beach Clean-up

Rite Foods Limited recently partnered with Sterling One Foundation to conduct a clean-up exercise on…

2 weeks ago
Warning: Undefined variable $post in /customers/e/a/5/brandnewsday.com/httpd.www/wp-content/plugins/schema-and-structured-data-for-wp/admin_section/common-function.php on line 5317 Warning: Attempt to read property "ID" on null in /customers/e/a/5/brandnewsday.com/httpd.www/wp-content/plugins/schema-and-structured-data-for-wp/admin_section/common-function.php on line 5317 Warning: Undefined variable $rows in /customers/e/a/5/brandnewsday.com/httpd.www/wp-content/plugins/schema-and-structured-data-for-wp/admin_section/common-function.php on line 5322 Warning: Trying to access array offset on value of type null in /customers/e/a/5/brandnewsday.com/httpd.www/wp-content/plugins/schema-and-structured-data-for-wp/admin_section/common-function.php on line 5322 Warning: Attempt to read property "seo" on null in /customers/e/a/5/brandnewsday.com/httpd.www/wp-content/plugins/schema-and-structured-data-for-wp/admin_section/common-function.php on line 5322 Warning: Undefined variable $rows in /customers/e/a/5/brandnewsday.com/httpd.www/wp-content/plugins/schema-and-structured-data-for-wp/admin_section/common-function.php on line 5322 Warning: Trying to access array offset on value of type null in /customers/e/a/5/brandnewsday.com/httpd.www/wp-content/plugins/schema-and-structured-data-for-wp/admin_section/common-function.php on line 5322 Warning: Attempt to read property "seo" on null in /customers/e/a/5/brandnewsday.com/httpd.www/wp-content/plugins/schema-and-structured-data-for-wp/admin_section/common-function.php on line 5322 Warning: Undefined variable $rows in /customers/e/a/5/brandnewsday.com/httpd.www/wp-content/plugins/schema-and-structured-data-for-wp/admin_section/common-function.php on line 5322 Warning: Trying to access array offset on value of type null in /customers/e/a/5/brandnewsday.com/httpd.www/wp-content/plugins/schema-and-structured-data-for-wp/admin_section/common-function.php on line 5322 Warning: Attempt to read property "seo" on null in /customers/e/a/5/brandnewsday.com/httpd.www/wp-content/plugins/schema-and-structured-data-for-wp/admin_section/common-function.php on line 5322 Warning: Undefined variable $rows in /customers/e/a/5/brandnewsday.com/httpd.www/wp-content/plugins/schema-and-structured-data-for-wp/admin_section/common-function.php on line 5322 Warning: Trying to access array offset on value of type null in /customers/e/a/5/brandnewsday.com/httpd.www/wp-content/plugins/schema-and-structured-data-for-wp/admin_section/common-function.php on line 5322 Warning: Attempt to read property "seo" on null in /customers/e/a/5/brandnewsday.com/httpd.www/wp-content/plugins/schema-and-structured-data-for-wp/admin_section/common-function.php on line 5322 Warning: Undefined variable $rows in /customers/e/a/5/brandnewsday.com/httpd.www/wp-content/plugins/schema-and-structured-data-for-wp/admin_section/common-function.php on line 5322 Warning: Trying to access array offset on value of type null in /customers/e/a/5/brandnewsday.com/httpd.www/wp-content/plugins/schema-and-structured-data-for-wp/admin_section/common-function.php on line 5322 Warning: Attempt to read property "seo" on null in /customers/e/a/5/brandnewsday.com/httpd.www/wp-content/plugins/schema-and-structured-data-for-wp/admin_section/common-function.php on line 5322 Warning: Undefined variable $rows in /customers/e/a/5/brandnewsday.com/httpd.www/wp-content/plugins/schema-and-structured-data-for-wp/admin_section/common-function.php on line 5322 Warning: Trying to access array offset on value of type null in /customers/e/a/5/brandnewsday.com/httpd.www/wp-content/plugins/schema-and-structured-data-for-wp/admin_section/common-function.php on line 5322 Warning: Attempt to read property "seo" on null in /customers/e/a/5/brandnewsday.com/httpd.www/wp-content/plugins/schema-and-structured-data-for-wp/admin_section/common-function.php on line 5322 Warning: Undefined variable $rows in /customers/e/a/5/brandnewsday.com/httpd.www/wp-content/plugins/schema-and-structured-data-for-wp/admin_section/common-function.php on line 5322 Warning: Trying to access array offset on value of type null in /customers/e/a/5/brandnewsday.com/httpd.www/wp-content/plugins/schema-and-structured-data-for-wp/admin_section/common-function.php on line 5322 Warning: Attempt to read property "seo" on null in /customers/e/a/5/brandnewsday.com/httpd.www/wp-content/plugins/schema-and-structured-data-for-wp/admin_section/common-function.php on line 5322 Warning: Undefined variable $rows in /customers/e/a/5/brandnewsday.com/httpd.www/wp-content/plugins/schema-and-structured-data-for-wp/admin_section/common-function.php on line 5322 Warning: Trying to access array offset on value of type null in /customers/e/a/5/brandnewsday.com/httpd.www/wp-content/plugins/schema-and-structured-data-for-wp/admin_section/common-function.php on line 5322 Warning: Attempt to read property "seo" on null in /customers/e/a/5/brandnewsday.com/httpd.www/wp-content/plugins/schema-and-structured-data-for-wp/admin_section/common-function.php on line 5322

This website uses cookies.