Agribusiness/Small and Medium Enterprises Investment Scheme (AGSMEIS), is an initiative of the Apex Bank – Central Bank of Nigeria, aimed at funding existing and aspiring entrepreneurs in building their businesses and in return contributing to the national Development.
So if you’re thinking of starting a business with this loan. You are in the right place. And this is the simplest and easiest loan you can get to run a business in Nigeria. It is an initiative to support the Federal Government’s efforts and policy measures for the promotion of Agricultural Businesses, Small and Medium Enterprises (SMEs) as vehicles for sustainable economic development and employment generation
Can your business benefit from the scheme?
The scheme is designed to help MSMEs in the following sectors:
Agricultural businesses, Education, Health, Services , Hospitality, Catering, Services, ICT, Manufacturing/Production, Mining, Creative Industry – like Fashion, Design, Crafts, Entertainment, Petrochemicals. Etc. If you are not sure of your business being covered by the scheme. Call us to know more. Entrepreneurs can access up to Ten Million Naira (N10,000,000) at 5% per annum for up to 7 years repayment.
The major requirement to access this fund is to be trained by an Enterprise Development Institution (EDI). IBADANCITY FASHION COLLEGE is a CBN Accredited EDI. At the completion of your Entrepreneurship training, your application and other details would be forwarded to CBN by the EDI. And you will be contacted by the CBN for interview and other neccessary information.
For the loan repayment, maximum of 18 months moratorium will be given on the loan principal and 6 months on the interest of the loan. The Interest rate is at 5% per annum. Loan duration/tenure is a maximum of 7 years. The Loan limit is between 1 million to10million naira. If you have any doubt, please visit any CBN branch nationwide, go to Development Finance Office to get more clarity and information.
To register for any of the training, contact the college on +2348081067070. To know when the next training is coming up.
Here are clips from the July edition.
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