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NMFB NON-INTEREST AGSMEIS: How to Access up to 3 Million Naira CBN Loan Without Collateral

NMFB NON-INTEREST AGSMEIS : How to Access up to 3 Million Naira CBN Loan Without Collateral The Central Bank of Nigeria is giving collateral-free loans of up to N3,000,000 (Three million Naira) to small businesses in a scheme called; Agric-Business/Small and Medium Enterprises Investment Scheme (AGSMEIS).

Introduction

The Scheme supports governments policy measures for the promotion of agricultural businesses, micro, small and medium enterprises (MSMEs) as vehicles for sustainable economic development and employment generation.

Objectives of the Scheme

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

Eligible sectors/businesses

  1. Agriculture & Agro-allied Processing
  2. Art & Entertainment
  3. Automobile Services
  4. Fashion and Dressmaking
  5. Catering & Event Management
  6. Courier & Delivery Services
  7. Creative Industry
  8. Apparels and Textiles
  9. I.C.T
  10. Cottage Industry
  11. Media
  12. Publishing
  13. Telecommunications
  14. Hospitality
  15. Health Services
  16. Welding and fabrication
  17. Animal Husbandry
  18. Cosmetics, Beauty, and Makeup Artistry
  19. Electrical and Electronics
  20. POP and Tiling
  21. Carpentry
  22. Masonry
  23. Kerbs and Electric Pole making

Modalities

  • Financing under the Scheme shall be for start-ups, business expansion, or revival of ailing companies. The terms of the loans shall be as follows:
  • Loan amount: Up to N3,000,000
  • Interest: 5% per annum for regular and 0% for non interest AGSMEIS
  • Tenor: Up to 7 years (depending on nature/gestation period of the project)
  • Moratorium: Maximum of 18 months for principal and 6 months on interest.

To access the AGMEIS loan, there are some conditions that must be met:

  1. Interested Applicants must undergo training by a CBN certified Entrepreneurship Development Institution (EDI)
  2. Interested Applicants will apply for the loan through the CBN accredited EDI
  3. The application will then be sent to CBN through NIRSAL MFB by the EDI, for processing.
  4. Those qualified will be contacted and given the loan.
  5. Fill clearly the form with all the details required, sign, and get them authenticated by the EDI.

Requirements either during the application or before final approval/disbursement

  1. BVN
  2. Certificate issued by a CBN certified EDI
  3. Details of two (2) Guarantors
  4. Valid ID card
  5. A Business Plan provided by the EDI

NMFB NON-INTEREST AGSMEIS: How to Access up to 3 Million Naira CBN Loan Without Collateral

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Important Notes

  • The above statements are intended to describe the general nature and level of work to be performed by people assigned to this job.
  • They are not to be construed as an exhaustive list of all responsibilities, duties and skills required of personnel so classified.
  • All personnel may be required to perform other responsibilities in addition to those specified from time to time, as needed.
  • We do not charge any application, processing, training, interviewing, testing or other fee in connection with the application or recruitment process. Should you receive a solicitation for the payment of a fee, please disregard it.
  • Furthermore, please note that emblems, logos, names and addresses are easily copied and reproduced. Therefore, you are advised to apply particular care when submitting personal information on the web.
  • We are an equal opportunity employer and value diversity inclusion. We do not discriminate on grounds of colour, race, nationality, religion, age, ethnic origin, disability, gender, marital status, or sexual orientation in our employment practices
  • Our people are all equally gifted in unique ways: we come from diverse traditions, personal experiences and points of view. And we want to include yours, Are you ready to inspire us with your ideas?
  • We encourage all applicants to apply and does not practice any discrimination in any recruitment process.
  • Applications submitted after the deadline will not be considered.
  • Due to the urgency of the position, we have the right to recruit a candidate who matches the required profile before the above deadline
  • Only qualified candidates will be invited for interview

Publisher’s Note:

Deroundtable.com is a job, vacancy, career opportunity blog. We share daily updates on available Jobs, vacancies, local and international scholarships, Government/international organization loans and grants.

Deroundtable.com is not an agent of this organization, we can not assist any applicant secure a job, loan, grant or scholarship. We only share the information for interested persons to apply.

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What is a cover letter?

A cover letter is a one-page document that you submit with your resume to express your interest in a job opening. The purpose of a cover letter is to introduce yourself to an employer and provide a brief overview of your work history, professional skills, and an explanation why you’re the best fit for that job.

While your resume focuses on your qualifications and achievements, your cover letter expands on those achievements, showcases your personality, and explains why you’d be a good fit for the company.

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Underneath your name in your cover letter header, list the following contact details:

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  • Mailing address (optional)
  • Linkedin profile link (optional)
  • Portfolio or website (optional)

After your header, include the date and following company contact information:

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  • Company address
  • Company phone number
  • Hiring manager’s email address

 

2. Address the hiring manager (ideally by their name)

Next, address your cover letter to the hiring manager by name if possible. A standard cover letter salutation includes the hiring manager’s first and last name, and begins with a “Mr.”, “Ms.”, or another relevant professional title.

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Start your cover letter with an informative, direct introduction by including the following details in the first one or two sentences:

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  4. Intention to apply: An enthusiastic announcement that you’re applying for the open role and why you’re interested in or qualified for it
  5. Notable accomplishments: If you have relevant work experience, highlight one or two of your most notable achievements in your introduction to immediately grab the employer’s attention

NMFB NON-INTEREST AGSMEIS: How to Access up to 3 Million Naira CBN Loan Without Collateral
NMFB NON-INTEREST AGSMEIS: How to Access up to 3 Million Naira CBN Loan Without Collateral

 

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