Apply, N10 million CBN AGSMEIS Loan for SMEs 

The NIRSAL AGSMEIS loan is a program of Central Bank of Nigeria (CBN) and the Microfinance Bank to provide loans to individuals, SMEs and groups at a very low percent interest rate of 5%.

Looking for funding for your SME or agricultural business in Nigeria? Check out the Central Bank of Nigeria’s AGSMEIS loan scheme, offering loans of up to N10 million at a 5% interest rate per annum. This blog post covers the objectives and requirements of the scheme, as well as the businesses and activities it covers. Find out how to apply and start growing your business today.

Accessing the AGSMEIS Loan:

Small and Medium Enterprises (SMEs) and agricultural businesses in Nigeria can now access up to N10 million loan through the Central Bank of Nigeria (CBN) Agric-Business/Small and Medium Enterprises Investment Scheme (AGSMEIS) at an interest rate of 5% per annum.

To access the loan, interested applicants must meet some conditions, including being trained by an Entrepreneur Development Institute (EDI), filling out the new form with all required details, and getting them authenticated by EDC. Additionally, the maximum loan tenor is seven years, while the moratorium period is 18 months.

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Objectives of the Scheme:

The objectives of AGSMEIS include ensuring access to finance for SMEs, generating employment opportunities, developing the agricultural value chain, and boosting the managerial capacity of Agri-Business/SMEs as pipelines of growing enterprises that can become huge corporate organizations.

Activities Covered by AGSMEIS

The activities covered by AGSMEIS include businesses across the agricultural value chain, MSMEs in the real sector (including manufacturing, mining, and petrochemicals), and MSMEs in the service sector (including ICT and the creative industry). The Bankers’ Committee reserves the right to include other activities at their discretion.

Requirements for AGSMEIS Loan Application

To apply for the AGSMEIS loan, applicants must meet the following requirements:

  • Have a registered business with CAC.
  • Provide evidence of tax payments [TIN]
  • Have a BVN.
  • Provide a letter of introduction.
  • Provide a letter of guaranty.
  • Obtain certification by an EDI.
  • Submit passport photos of both the applicant and the guarantor.
  • Present a valid ID card.

The guarantor for the loan can be a friend or spouse, while the letter of introduction can be written by any of the following: Pastor, Chief Imam, LGA Chairman, CDA Chairman, Village Head, Senior Civil Servants Level 14 above, or MDs of reputable corporations.

What businesses are eligible to obtain this loan?

Here is a list of the different businesses that are eligible for this loan:

1. Creative & Art Industries

2. Fashion, Beauty

3. Industrial & Manufacturing

4. Agriculture & Allied Processing

5. Apparel & Textile

6. Arts & Entertainment

7. Information & Communication Technology

8. Automobiles

9. Telecommunication

10. Hospitality

11. Media & Publishing

12. Catering & Event Management

How to apply for the AGSMEIS loan

If you are into any of the business fields listed above, you can apply by following these straightforward instructions:

1. First, you have to attend mandatory training with any NIRSAL MFB-authorized Entrepreneurship Development Institute (EDI). Basically, this makes you eligible to take out the loan

2. Next, create a personal account. To do this, simply visit the AGSMEIS official website, then tap on ‘Apply Now’ and start your registration as an applicant. You have to verify your BVN and choose your NIRSAL MFB-authorized Entrepreneurship Development Institute (EDI).

3. Therefore, you have to wait to get feedback from them. If you qualify for the loan, you will receive the money in your account. However, if you don’t qualify for the loan, wait for the platform to give you feedback

Alternatively, you can go to any of the NMFB-authorized EDIs to guide you on how to go about the process.

AGSMEIS Loan Approval

Checking if AGSMEIS has approved your loan application is simple. After you apply for the loan, you will receive a text message that provides you with a direct link to the NMFB portal. Do this:

1. Simply follow this link, then select the kind of loan you applied for (personal or housing or SME).

2. Next, verify your account by inputting your BVN. Once you do this, a confirmation amount will show on the next page (if your loan application was approved)

3. Once the platform approves your loan, you will need to provide your bank account information for disbursement.

Below the page, you will see the terms of your loan and the details of the director in charge of your loan payments.

How to contact AGSMEIS

You can contact AGSMEIS through any of these ways:

Address: House 1, Plot 103 /104, Monrovia Street, Wuse 2, Abuja

Email Address:

Phone Number: +2347041800003



In conclusion, the CBN AGSMEIS loan is a great opportunity for Nigerian SMEs and agricultural businesses to access funds to grow their businesses.

Interested applicants should use the application details above to apply and should ensure they meet all the requirements before submitting their applications.

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