FAQs On 2023/2024 NIRSAL AGSMEIS CBN Loan Application

We have received numerous comments from our visitors asking us Frequently Asked Questions (FAQs) on NIRSAL CBN AGSMEIS Loan Application. I know you are one of the people that like asking this question. Don’t bother yourself anymore because this informative article is been written to give an answer to your questions.

It is better to grow your business with NIRSAL Microfinance Bank, your true MSME Partner. Access CBN loans for small businesses for as low as 9%.

What is AGSMEIS?

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

Loan Eligibility

Registered business name (Enterprise or Limited Liability)

How Does It Work

Step 1

Get Trained

Attend a compulsory training with a CBN certified Entrepreneurship Development Center (EDC).

Step 2

Apply For Loan

The Entrepreneurship Development Institute (EDI) guides and assists you in getting all necessary documents required to secure the loan.

Step 3

Receive Funds

Loans are paid into the account of beneficiaries. Unqualified candidates are given feedback.

Step 4

Get Business Support Services

The Entrepreneurship Development Institute assists you to implement business plans and provide business support services commercially.

Step 5

Make Sales

Sell products and services to pay back loans and make a profit.

Step 6

Repay Loan

Run your business, keep proper records, monitor sales, and expenses to maximize profit, and pay back the loan.

Frequently Asked Questions (FAQs)

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.

What Is The Interest Rate For This Loan?

The interest rate is nine percent (9%) per annum.

Do I Need Collateral?

No, this loan scheme does not require a collateral.

How Long Will It Take To Receive Funds?

This loan scheme is designed to be easily accessible. The entire process is automated. From application submission to disbursement takes six (6) to eight(8) weeks.

Has Disbursement Started?

Yes we have disbursed over N25B and this is still ongoing.

I believe that you have gotten the necessary information about the NIRSAL CBN AGSMEIS Loan Application. Then, what else do you think is remaining? I know you are smiling and saying to yourself “It is the application process”.

How To Apply For NIRSAL CBN Loan

For more information and to apply, visit: https://agsmeisapp.nmfb.com.ng/