Are you an Agriprenuer and seek a Loan to start a business?
Do you have a passion for Agriculture and want to benefit from a collaboration with the Lagos State Ministry of Agriculture and Food Systems?
If Yes, then the Agribusiness, Small and Medium Enterprise Scheme (AGSMEIS) is meant for you.
INTRODUCTION – Agribusiness, Small and Medium Enterprise Scheme (AGSMEIS)
The Agric, Small and Medium Enterprise Scheme (AGSMEIS) is an initiative of the Bankers’ Committee in a bid to support and complement the Federal Governments’ efforts at promoting Agri-businesses/Small and Medium Enterprises as a vehicle for sustainable economic development and employment generation.
With the CBN AGSMEIS Loan, an applicant can access up to N10M at 5% per year without collateral with a 7 years Tenor and 18 months Moratorium.
Phases to Apply for AGSMEIS LOAN
Phase 1Phase 1
Interested applicant should visit NIRSAL MFB webpage (nmfb.com.ng) on AGSMEIS loan
Select Ministry of Agriculture and Food Systems as Entrepreneur Development Institute (EDI)
Visit Ministry of Agriculture and Food Systems/Agribusiness Department for more details or send an email to: – asobande@lagosstate.gov.ng
Attend a One (1) week compulsory training at the Lagos State Ministry of Agric EDI Centre/Oko-Oba Agege to obtain certificate for completion of training
Phase 2
After been trained by the Entrepreneur Development Institute (EDI) in Lagos State
Interested applicant will apply for loan online via the NIRSAL MFB’s portal and upload the obtained certificate of completion
The applications will then be sent to CBN for processing
Applicants will be called for an interview regarding his/her business.
Those qualified will be contacted and given the loan.
CBN AGSMEIS Loan Activities
Activities covered by the CBN AGSMEIS Loan include;
Businesses across the agricultural value chain covering inputs supply, production, storage, processing, logistics and marketing. MSMEs in the real sector including manufacturing, mining and petrochemicals.
MSMEs in the service sector including information and communication technology (ICT) and the creative industry. Other activities as may be determined by the Bankers’ Committee from time to time.
Requirements for CBN Loan Approval of Application and Disbursement of Funds
The following are the Requirements necessary either during application or before final approval of the CBN loan application and final disbursement of funds to an applicant.
Registered business with CAC
Certification by an EDI
BVN
Applicant’s Passport photo and a guarantor.
Valid I.D card
To learn more, contact the AgriBusiness Department in the Lagos State Ministry of Agriculture and Food Systems at: – agansallo@lagosstate.gov.ng
