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Agri-Business Small And Medium Enterprise Investment Scheme (AGSMEIS)

AGSMEIS

The Agri-Business, Small and Medium Enterprise Investment Scheme (AGSMEIS) is an initiative of the Bankers’ Committee established at its 331st Meeting held on February 9, 2017. The Scheme supports the government’s policy measures and efforts to promote agricultural businesses, Micro, Small and Medium Enterprises (MSMEs) as vehicles for Nigeria’s sustainable economic development and employment generation.

See also APX Rolling Program.

Aims Of The AGSMEIS Program

Start Your Business in 30 Days Even If You Don't Have An Idea
Start Your Business in 30 Days Even If You Don’t Have An Idea

The objectives of the Scheme are to:

  1. Improve access to affordable and sustainable finance by Agri-businesses, Micro, Small and Medium Enterprises (MSMEs).
  2. Create employment opportunities in Nigeria.
  3. Boost the managerial capacity of agri-businesses and MSMEs to grow the enterprises into large corporate organizations in line with Federal Government’s agenda to develop the real sector and promote inclusive growth.

See also Skoll Foundation: Awards For Social Entrepreneurship

Eligibility And Steps For The AGSMEIS Program

To apply for Agri-Business/Small and Medium Enterprise Investment Scheme/Loan, you have to follow the following steps:

  • Step 1: Get Trained

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

  • Step 2: Apply For The Loan

The Entrepreneurship Development Institute (EDI) guides and assists you in getting all the 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 a business plan 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 repay the loan.

Go from idea to starting your business in 30 days
Go from idea to starting your business in 30 days

Note: Ensure that all your documents are complete before you apply.

See also AngelPad Funds For Start-Ups.

What You Stand To Gain

The Agri-Business/Small and Medium Enterprise Investment Scheme/Loan has the following benefits:

  1. Provides loan opportunities.
  2. The interest rate is nine percent (9%) per annum (which is relatively cheaper compared to some other programmes).
  3. The loan scheme does not require collateral.
  4. The loan scheme is designed to be easily accessible – the entire process is automated.
  5. The application is on a rolling basis.

How To Apply

Click here to visit their website and apply.

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