Agri-Business/Small and Medium Enterprise Investment (AGSMEIS)

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.

Your business does not need to be registered nor be in Agriculture Sector for you to apply for AGSMEIS Loan.

How is the AGSMEIS Program Structured?

The AGSMEIS program is structured with three (3) principal players:

Enterprise Development Institute (EDI)

whose role is to train the prospective applicants and guide them during the online application or provide assistance, for a fee, to upload their documentation of the Application Portal- Simplified Credit. The Enugu SME Center is the flagship EDI in Enugu State.

Central Bank of Nigeria (CBN)

Central Bank of Nigeria (CBN) through NIRSAL MFB receives and appraises the application submitted by the EDI. They would also interview the applicants as part of the appraisal process. Approved loans are disbursed directly to the bank account of the applicant with NIRSAL MFB


SIMPLIFIED Credit are IT consultants of NIRSAL MFB and that created the portal where the applications are submitted. This is a fixed fee of N5,000 (Five Thousand Naira Only)


Application Process

Step 1: Get Trained

Attend a compulsory training with a CBN certified Entrepreneurship Development Center (EDC)- Enugu SME Center and its various locations. This costs N10,000 (Ten Thousand Naira Only) as mandated by the CBN nd NIRSAL MFB. It is mandatory. You would be notified of your training slot after 7days of payment

Step 2: Apply for Loan

The Entrepreneurship Development Institute (EDI)- Enugu SME Center, guides and assists you in getting all necessary documents required to secure the loan

Step 3: Receive Funds

Loans are paid into the account of beneficiaries. Unqualified candidates are given feedback.

Step 4: Get Business Support Services

The Entrepreneurship Development Institute (Enugu SME Center) will assists applicants to implement business plan and provide business support services commercially. This fee is N3,000 (Three Thousand Naira Only). This is optional. Every applicant can complete their application on Simplified Credit by themselves

Step 5: Make Sales

Sell products and services to pay back loan and make profit.

Step 6: Repay Loan

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

Apply For the AGSMEIS Loan Today

Don’t miss out on this great opportunity to get fund, grow and support your business. Your business does not need to be registered for you to apply for AGSMEIS Loan.

According to the information provided by NIRSAL MFB, the loan program funds ALL economically viable sectors except those within the trading or buying and selling subsector, speculative activities, dealings in all forms of contraband goods. The sectors fund preferred are; all forms of Agric-business Value Chain, production,  manufacturing, logistics, ICT, creative industry, processing, renewable energy, educational sector, services, artisans, cooperatives, economically active disabled and other sectors as determined by NIRSAL MFB and Central Bank of Nigeria (CBN)


The loan tenure ranges from one (1) year to seven (7) years depending on the tenure chosen by the applicants during the application.

The Interest rate of the loan is 9%

Applicants who need time to install machines and other equipment or time to break into the market are free to request for a grace period or moratorium before commencement of the repayment. The Moratorium period is part of the loan Tenure. The options are one (1) year or two years moratorium period.

The loan program funds both Assets acquisition, Machines, Equipment, and tolls while also funding working capital.

You would be required to bring a number of documents like CAC Incorporation Documents, Picture of the Businesses, BVN and completion of forms that would provide the necessary information needed for the Business Plan Submission on the Simplified Online Application Portal. The Agency can help applicants to complete their application process, after the mandatory training for N3,000 (Three Thousand Naira Only) as mandated by NIRSAL MFB and Central Bank of Nigeria (CBN)

Enugu SME Center, Enugu is an Enterprise Development Institute (EDI) whose duty is to train applicants and guide them through the application and upload process.

No collaterals are needed but two (2) guarantors are needed. Also for asset acquisition, the asset being purchased would also act as collateral

NO. Your Business doesn’t have to be registered to apply.

This loan scheme is designed to be easily accessible. Upon successful interview with NIRSAL and final approval for the facility, it typically takes around eight (8) to twelve (12) weeks.