NMFB Agricultural Loan Program – An initiative for sustainable development and employment generation has opened portal on application acceptance for Agricultural Loan.
What is AGSMEIS?
The Agri-Business/Small and Medium Enterprise Investment Scheme 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.
HOW IT WORKS – NMFB Agricultural Loan Program
Get access to affordable loans to start and grow you business in 6 steps
Attend a compulsory training with a NIRSAL MFB certified Entrepreneurship Development Institute (EDI).
Apply For Loan
Create an account by clicking on ‘Apply now’ as an applicant, validate your BVN and select a NIRSAL MFB certified Entrepreneurship Development Institute (EDI).
Loans are paid into the account of beneficiaries. Unqualified candidates are given feedback.
Get Business Support Service
The Entrepreneurship Development Institute assists you to implement business plan and provide business support services commercially.
Sell products and services to pay back loan and make profit.
Run your business, keep proper records, monitor sales and expenses to maximize profit and pay back the loan.
How to Apply – NMFB Agricultural Loan Program
Frequently Asked Questions
How do I access the loan?
Interested applicants are to visit the https://agsmeisapp.nmfb.com.ng/onboarding and create an account which will enable them start the application process, or visit any of the NMFB Certified EDIs to guide
What is the interest rate for this loan?
The interest rate is currently at five percent (5%) per annum.
Do I need collateral?
No, this loan scheme does not require a collateral.
Has disbursement started?
Yes we have disbursed over N95B and this is still ongoing.
Upon approval of my loan can the funds be released to me as I deem fit?
No. Your approved loan amount will be disbursed to your NMFB account. For the purchase of your equipment(s)/machineries, this will be handled by one of the NMFB’s certified Vendors while the working capital will be accessible through your account for withdrawal, upon meeting all terms and conditions – NMFB Agricultural Loan Program