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AGSMEIS Non-Interest Loan Application Process for 2022

Do you own a business and need working capital to stimulate your business growth to keep it running? Do you want to start a new business and lack startup capital? AGSMEIS Non-Interest Loan could be a good option for you. If you are interested, learn more about AGSMEIS Non Interest Loan and how to apply.

What is AGSMEIS Non-Interest Loan?

AGSMEIS simply means, Agri-business, small and medium enterprises investment. AGSMEIS is a federal government intervention funding scheme through the Centre Bank of Nigeria to promote Agric businesses as a tool for sustainable economic development and employment generation.

CBN is collaborating with Financial Institutions to support and complement the Federal Government’s efforts at promoting Agri-businesses/Small and Medium Enterprises.

That is to say, AGSMEIS Non-Interest Loan is created specifically to provide financial support for agricultural businesses of all levels, both micro, small, and medium enterprises.

Features of AGSMEIS

  • Interest Rate: 5% per annum
  • Tenor: 7 years.
  • Moratorium: Maximum of 18 months on Principal and 6 months on Interest

The AGSMEIS Non-Interest Loan financing limit is N10,000,000.00 for a tenor of up to 7 years. The loan tenor depends on the nature/gestation period of the project.

Applicants may however enjoy a moratorium of 6 months for mark-up and 18 months for the principal. A moratorium is a grace period granted to the customer by the Bank to postpone the payment.

Eligible sectors

Who is eligible for AGSMEIS Non-Interest Loan? AGSMEIS Non Interest Loan is available to all entrepreneurs in these sectors:

  • Agricultural sector.
  • Real sector including Manufacturing, mining, and petrochemicals.
  • Service sector including Information and Communication (ICT) and the Creative Industry.
  • Other businesses as determined by the Central Bank of Nigeria (CBN).

If your business fall among the above categories, then, you’re eligible for AGSMEIS Non-Interest Loan. You can apply for an AGSMEIS Non-Interest loan.

AGSMEIS Non-Interest Loan Requirements

  • Properly completed application form.
  • Bank Verification Number (BVN).
  • Certificate of Training from participating Entrepreneurship Development Institution (EDI).
  • Letter of Introduction from any of the following, Clergy, Village Head, District Head, Traditional Ruler, senior civil servant, etc..
  • Evidence of registration of business name or certificate of incorporation and filing of annual returns (where relevant) in compliance with the provisions of the Companies and Allied Matters Act (1990).
  • Tax Identification Number (TIN) and current Tax Clearance Certificate TCC) where relevant.
  • Participating Enterprise Development Institute will submit your form to CBN.
  • CBN will ask banks to verify your account details and then CBN proceeds to conduct its own assessment.

AGSMEIS Loan Application Process

Here, you will learn how to apply and access the AGSMEIS Non-Interest Loan. The AGSMEIS loan application process seems to be highly cumbersome. However, we’ll walk you through the steps on how to get access to AGSMEIS affordable loans you need to get started and grow you business.

Hence, if you are ready, lets follow the 6 steps procedure below to apply and access the AGSMEIS Non-Interest Loan:

  • Get Trained
  • Apply For Loan
  • Receive Funds
  • Get Business Support Service
  • Make Sales
  • Repay Loan

Get Trained

Applicants must attend a compulsory training with a NIRSAL MFB certified Entrepreneurship Development Institute (EDI). These institutes help understand the procedures for applying and accessing the AGSMEIS loan.

The Entrepreneurship Development Institute (EDI) will guide you on how to apply for the AGSMEIS loan. And assist you to get all supporting documents required to process the AgGSMEIS loan

There are good number of CBN certified Entrepreneurship Development Institute (EDI) centers spread across the country. Just location the one in your state and register for EDI training.

Apply For Loan

Interested applicants are to visit the https://agsmeisapp.nmfb.com.ng/onboarding and create an account. This will enable you start the application process, or visit any of the NMFB Certified EDIs to guide.

However, to fasten the process:

  • Visit AGSMEIS portal login
  • Create an account by clicking on Apply now
  • Validate your BVN and
  • Select a NIRSAL MFB certified Entrepreneurship Development Institute (EDI).

Receive Funds

The AGSMEIS Loans are paid into the account of beneficiaries once they are qualified. Unqualified applicants are given feedback on the status of their loan application.

Get Business Support Service

You will enjoy the Entrepreneurship Development Institute (EDI) services. The EDI assists you to implement business plan and provide business support services commercially.

Make Sales

Once you have received your AGSMEIS fund, you need start production to be able make sales. Sell products and services to pay back loan and make profit.

Repay Loan

Once you have set your business running, the next thing is to start generating revenue and begin to pay back the AGSMEIS loan.


  • You must have to run your business prudently.
  • Keep proper records for accountability.
  • Monitor sales and expenses to maximize profit
  • Finally, pay back the loan.


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