How to Access NIRSAL CBN AGSMEIS Business Loan (Complete Guide)

Last Updated on November 6, 2020

This page covers all the important information you may need to know on how to access NIRSAL CBN AGSMEIS Business Loan. Here, you will be guided through on the objective of the loan programme, how you can benefit and requirements to access loan. Please, stay tuned.


The Agricultural business/Small and Medium Enterprises Investment Scheme AGSMEIS Loan was created by the Central Bank of Nigeria (CBN) and the Bankers’ Committee as an initiative to support the federal government efforts to promote agricultural businesses and small/medium enterprises (SMEs) as well as to ensure sustainable economic development and job creation in the country.

Interested Nigerians engaged in Agriculture or other SME businesses can access up to N10 Million from the AGSMEIS Loan, at a single-digit interest rate of 9% per annum. Below are eligibility, requirements and steps to access loan.


Businesses in the following industry are eligible for the AGSMEIS Loan:

  • 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).


Below are requirements to get approved for NIRSAL CBN AGSMEIS Loan for SMEs and AGRIC Businesses.

  • Duly completed application form.
  • Bank Verification Number (BVN).
  • Certificate of Training from recognized Entrepreneurship Development Institution (EDI) or evidence of membership of organized private sector
  • Letter of Introduction from any of the following, Clergy, Village Head, District Head, Traditional Ruler, senior civil servant, etc. (for individuals/ micro enterprises only).
  • Evidence of registration of business name or certificate of incorporation and filing of annual returns (where applicable) in compliance with the provisions of the Companies and Allied Matters Act (1990).
  • Tax Identification Number (TIN) and current Tax Clearance Certificate TCC) where applicable.
  • To qualify to access this fund, you need to have been trained by an Enterprise Development Institute after which you will fill the form. They will submit your form to CBN.
  • CBN will ask banks to verify your account details and then CBN proceeds to conduct its own assessment.

RELATED: How to Access BOI Business Loan for Enterprises (Complete Guide)


Step 1: Get Trained

It is mandatory for all applicants to attend training with a CBN certified Entrepreneurship Development Institute (EDI), they have centers spread across the country.

Step 2: Apply For Loan

The Entrepreneurship Development Institute (EDI) will guides and assists you in applying for the loan by getting all necessary documents required for the processing of the loan

Step 3: Receive Funds

The Loan fund is paid into the account of beneficiaries. While unqualified candidates are given feedback.

Step 4: Get Business Support Services

The Entrepreneurship Development Institute (EDI) will assist you to implement the business plan drawn and also provide business support services commercially.

Step 5: Make Sales

You sell your products and services to pay back loans and make profit, beneficiaries are expected to run the business by keeping proper records, monitor sales, and expenses to maximize profit and pay back the loan.

Step 6: Repay Loan

Run your business, keep proper records, monitor sales and expenses to maximize profit and pay back the loan.


What is the interest rate for this loan?

The interest rate is nine percent (9%) per annum.

Do I need collateral?

No, this loan scheme does not require a collateral.

How long will it take to receive funds?

This loan scheme is designed to be easily accessible. The entire process is automated. From application submittion to disbursement takes six (6) to eight (8) weeks.

Has disbursement started?

Yes, over 25 Billion Naira have been disbursed and this is still ongoing.

How to Apply for NIRSAL CBN AGSMEIS Business Loan?

Visit the official portal: to register.

We hope you will find this information useful. Please, do not hesitate to share it with friends, colleagues and relatives whom you know may be in need of this kind of information. Thanks for caring and do have a nice one ahead!

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