What You Need To Know About NMFB AGSMEIS Loan Scheme

What You Need To Know About NMFB AGSMEIS Loan Scheme

The Agri-Business/Small and Medium Enterprise Investment Scheme 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.

AGSMEIS Loan Frequently Asked Questions(FAQ)

How do I access the loan?
Interested applicants are to visit the link and create an account that will enable them to start the application process, or visit any of the NMFB Certified EDIs to guide

What is the interest rate for this loan?
The interest rate is currently at five percent (5%) per annum.

Do I need collateral?
No, this loan scheme does not require collateral.

Has disbursement started?
Yes, we have disbursed over N95B and this is still ongoing.

You may also want to read NMFB Opens New Application Portal For Its AGSMEIS Loan Customers

Upon approval of my loan can the funds be released to me as I deem fit?
No. Your approved loan amount will be disbursed to your NMFB account. The purchase of your equipment(s)/machineries, this will be handled by one of the NMFB's certified Vendors while the working capital funds will be accessible through your account for withdrawal, upon meeting all terms and conditions.

What is the link to apply for an AGSMEIS loan?
The application link is https://agsmeisapp.nmfb.com.ng

How It Works
The 6 steps below are how you get access to AGSMEIS loan to start and grow your business:

1) Get Trained: Attend compulsory training with a CBN-certified Entrepreneurship Development Center (EDC).

2) Apply For Loan: Attend compulsory training with a CBN-certified Entrepreneurship Development Center (EDC).

3) Receive Funds: Loans are paid into the account of beneficiaries. Unqualified candidates are given feedback.

4) Get Business Support Service: The Entrepreneurship Development Institute assists you to implement a business plan and provide business support services commercially.

You may want to also check out How To Apply For Firstbank CBN Commercial Agriculture Credit Scheme

5) Make Sales: Sell products and services to pay back loans and make a profit.

6) Repay Loan: Run your business, keep proper records, monitor sales, and expenses to maximize profit, and pay back the loan.

You can now get access to affordable loans to start and grow your business with NMEFB, your true MSME partner An initiative for sustainable development and employment generation

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