AGRI-BUSINESS SMALL MEDIUM ENTERPRISES INVESTMENT SCHEME (AGSMEIS)

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The Bankers' Committee on 9 February 2017 approved the AGSMEIS to support Federal Government's efforts at promoting agricultural businesses and small and medium enterprises as a vehicle for sustainable economic development and employment generation. The Scheme requires all banks to set aside 5% of their Profit after Tax (PAT) annually for its funding.

Objectives

• Ensure access to finance for Small and Medium Enterprises (SMEs)
• Generate much needed employment opportunities in Nigeria
• Develop agricultural value chain and ensure sustainable agricultural practices
• Boost the managerial capacity of Agri-Business/ SMEs.

Managing Agent

The Scheme has a Board of Directors (BOD) which is constituted by the Bankers' Committee. The Board is comprised of eight members:

• Five from the Bankers' Committee (Top contributing banks to the Scheme)
• Two representatives of the CBN
• The BOD shall select a Chairman for the Board
• The Managing Director/CEO of the SPV shall be appointed by the BOD

How to Apply

• Interested applicants can visit the AGSMEIS portal Click here to visit AGSEMEIS portal
• Create an account and start the application process
• Applicants are required to undergo a mandatory training programme with an accredited Entrepreneurial Development Institute (EDI) and also submit a Business plan before proceeding to the loan application stage
• On completion of training, applicants submit loan applications through EDIs to NMFB

FAQs for AGSMEIS

Why was AGSMEIS introduced?

• For the promotion of agricultural businesses and small/medium enterprises (SMEs)

What is the maximum amount for term loan which can be currently applied for under the AGSMEIS?

• N3Million. This limit is subject to periodic management review

What is the maximum amount for Equity Investment which can be currently applied for under the AGSMEIS?

• N2 Billion. This limit is subject to periodic management review

Which financial institution is the managing agent for AGSMEIS?

• NIRSAL Microfinance Bank.

How Do I Access the Loan?

• Get trained by first selecting a CBN-Certified Entrepreneurship Development Institute (EDI) to guide you through the loan application process and ensure that all your documents are complete.

Do I Need Collateral?

• No, this loan scheme does not require a collateral

How can I apply for AGSMEIS?

• To apply for AGSMEIS, please visit our portal

Loan Eligibility

• Registered business name (Enterprise or Limited Liability)