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AGSMEIS Loan 2019 Application Guide – See How to Access Up to N10m Agri-Business Loan


Are you looking for Loan without collateral in Nigeria? if yes then you are at the right place as AGSMEIS Loan 2019 application is still in progress as at the time of publishing this article. The Agri-Business, Small and Medium Enterprises Investment Scheme (AGSMEIS) is a Federal Government Scheme that promotes agricultural businesses, micro, small, medium enterprises (MSMEs) thereby creating an avenue for improved employment generation and sustainable economic development.

Agsmeis loan application form pdf

Agsmeis loan sterling bank

Sterling bank agsmeis

Agsmeis fund 2019

Agsmeis loan 2019

The AGSMEIS Loan 2019 scheme has enabled so many banks to give businesses the opportunity to access low interest loans in form of Debt or Equity.

AGSMEIS LOAN 2019 ELIGIBLE BUSINESSES

  • Agricultural sector.
  • Real sector including Manufacturing, mining and petrochemicals.
  • Service sector including Information and Communication (ICT) and the creative Industry.
  • Other businesses as determined by the Central Bank of Nigeria (CBN).

AGSMEIS 2019 LOAN OPTIONS

  1. Debt Component – This makes up 50% of the funds which will be disbursed as loans to eligible businesses through Commercial Banks.
    Terms

  • Loan Limit: ₦10 million (Maximum)
  • Interest Rate: 5% p.a
  • Tenor: Up to 7 years
  • Moratorium: Maximum of 18 months on Principal and 6 months on Interest
  1. Equity Component – This constitutes 45% of the funds which will be channelled through Fund Managers for equity investments in agri-businesses and SME’s.
    Terms

  • Loan Limit: Not more than 40% of the investee company’s equity subject to a maximum of ₦2 Billion.
  • Tenor: Up to 10 years with an initial lock period of 3 years.
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AGSMEIS LOAN 2019 REQUIRED DOCUMENTATION

  • Duly Completed Application Form
  • Bank Verification Number (BVN)
  • Certificate of Training from a recognized Entrepreneurship Development Institution (EDI) or evidence of membership of organized private sector association
  • Letter of Introduction from any of the following- Clergy, Village Head, District Head, Traditional Ruler, Senior Civil Servant etc (for Individuals and Micro Enterprises Only)
  • Evidence of Registration of Business Name or Certificate of Incorporation and filing of annual returns (where applicable)
  • Tax Identification Number (TIN) and current Tax Clearance Certificate (where applicable)

Check Also: ETC Loan 2019/2020 Grants Programme & How to Register

HOW TO ACCESS THE LOAN / LOCATIONS

You have to be trained by an Enterprise Development Institutions, after which the application form will be given to you for completion and submission to the Central Bank of Nigeria (CBN).

CBN will ask banks to verify your account details and then conduct it’s own assessment before disbursement of funds.

ENTREPRENEURSHIP DEVELOPMENT INSTITUTIONS IN LAGOS

S/N

ENTREPRENEURSHIP DEVELOPMENT INSTITUTION (EDI)

CONTACT PERSON

CONTACT PHONE

LOCATION

1

National Association of Small Scale Industries (NASSI)

Lagos

2

House of Tara

Lagos

3

Small and Medium Enterprises Development Agency of Nigeria (SMEDAN)

Lagos

4

Fate Foundation

Lagos

5

Lagos State Employment Trust Fund (LSETF)

Lagos

6

EDC – Lagos Business School

Lagos

7

African Leadership Forum (ALF)

Executive Director

08023011543

Lagos

8

National Directorate of Employment (NDE)

Mr Chidiebere

08037004984

Lagos

The Agric-Business/Small and Medium Enterprises Investment Scheme (AGSMEIS). AGSMEIS is a voluntary initiative of the Bankers’ Committee approved at its 331st meeting held on 9th February, 2017.

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