This article is to guide you through the Agsmeis Loan Application Portal registration for the AGSMEIS loan with guides and steps to grow your business.
The Federal Government through the Nirsal CBN AGSMEIS Loan programme is helping people grow their businesses with investment funds which are in form of a loan to be repaid after there is growth in the said business.
In this section, we have several loan programmes and one of the vibrant ones is the National Youth Investment Fund popularly known as NYIF which also is dedicated to helping people grow their businesses easily.
Before we talk further about how you can apply for the loan via the AGSMEIS Loan Application Portal let’s talk about what the Loan is all about.
The word AGSMEIS means Agri-Business Small and Medium Enterprise Investment Scheme, it is all loans provision for two sets of the business owner such as small and large ones.
It is one of the main loans targeted at the growth of small to medium businesses and is currently managed and directed by the Central Bank of Nigeria (CBN) in collaboration with the Nirsal Microfinance Bank.
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What is AGSMEIS?
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.
Read Also: How To Apply For IPPIS Loan In Nigeria – Easy Steps
The AGSMEIS CBN Loan was created for Agricultural Small to Medium Scale Enterprises in which the loan offered in this section is used as an investment to boost the production of the agri-business which in turn will help the country’s economy.
Without any further talk, let’s go straight to the process to apply via the AGSMEIS Application Portal with steps.
Requirements for the AGSMEIS Loan
To apply for the loan, there are some requirements that must be met for you to be considered for the loan. Below are the requirements:
You must make sure your business falls under these categories: Textile, Arts, Fashion, Entertainment, and Others.
You must attend compulsory training with a NIRSAL MFB certified Entrepreneurship Development Institute (EDI).
You must also validate your BVN with NIRSAL MFB certified Entrepreneurship Development Institute (EDI).
It is only after you meet the above requirements that you will be able to apply and get considered for the AGSMEIS loan.
Let’s hurriedly move on to the part where you register for the loan with each step listed out.
Apply for AGSMEIS Loan Application Portal Form
To apply for the AGSMEIS Loan is easy via the Application portal form made available online by the CBN management, the portal allows you an easy application process.
1. Get Trained
Attend compulsory training with a NIRSAL MFB certified Entrepreneurship Development Institute (EDI).
2. Apply For a Loan
Create an account by clicking on ‘Apply now’ as an applicant, validate your BVN and select a NIRSAL MFB certified Entrepreneurship Development Institute (EDI).
3. Receive Funds
Loans are paid into the account of beneficiaries. Unqualified candidates are given feedback.
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4. Get Business Support Service
The Entrepreneurship Development Institute assists you to implement a business plan and provide business support services commercially
5. Make Sales
Sell products and services to pay back loans and make profits.
6. Repay Loan
Run your business, keep proper records, monitor sales, and expenses to maximize profit, and pay back the loan.
Agsmeisapp.nmfb.com.ng AGSMEIS Loan Portal Login
To apply for the loan you have to visit the portal agsmeisapp.nmfb.com.ng either on your PC or your smartphone and then follow the above registration process and steps.
The information out now is that the Nirsal Microfinance AGSMEIS loan disbursement is ongoing and over N95 billion naira has been disbursed so far.
Do note that the only Agsmeis Application Portal is https://agsmeisapp.nmfb.com.ng, the loan is only accessed through that secure portal only. Beware of other websites posing as the loan portal as scammers are out to steal your money.
Frequently Asked Questions (F.A.Qs)
How do I access the loan?
All interested applicants are required to visit the https://agsmeisapp.nmfb.com.ng/onboarding 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.
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)/machinery, will be handled by one of the NMFB’s certified Vendors while the working capital will be accessible through your account for withdrawal, upon meeting all terms and conditions.
