Saturday, July 31st, 2021

AGSMEIS Commences Disbursement of N10m Govt. Loan

In a tweet posted by the managing firm, Nirsal Microfinance Bank, pictures of presentation of equipment to AGSMEIS beneficiaries in different states was shared. Good news is that the application is still very much on.

The Central Bank of Nigeria under the present administration of President Muhammadu Buhari is doing everything under its power to encourage entrepreneurial activities in the country, by giving out cheap CBN Loans.

Different credit facilities are being created and target at individuals who are in serious need of financial boost for their business activities, one of which is what this article HERE is all about – The Ten Million Naira (N10M) Loan facility.

Who is Eligible?

You must deal with any of the following categories before you can apply. If your business type is not listed below, you might need to have a rethink.

  1. Creative and Art Industries : (Fashion, Beauty, Apparel and Textile, Arts & Entertainment)
  2. Industrial and Manufacturing : (Agriculture & Allied Processing, Automobiles)
  3. Information & Communication Technology : (Telecommunication, Media & Publishing)
  4. Hospitality: (Catering & Event Management)

IF YOUR BUSINESS IS NOT LISTED ABOVE AND YOU NEED HELP WITH APPLICATION, SEND US A MAIL AT howfar@ogaceo.com. We offer free consultancy.

READ ON HOW TO APPLY FOR SURVIVAL FUND FOR UBER DRIVERS

HOW TO GET THE N10M AGSMEIS LOAN

  1. Attend a compulsory training with a CBN certified Entrepreneurship Development Center (EDC). This training usually last for four (4) days and averagely cost Ten Thousand Naira (N10, 000) to attend.
  2. The Entrepreneurship Development Center (EDC) will guide and assist you in getting all necessary documents required to secure the loan.
  3. Loans are paid into the account of beneficiaries. Unqualified candidates are given feedback.
  4. The Entrepreneurship Development Center (EDC) will assist you to implement your business plan and provide business support services commercially.
  5. Sell products and services to pay back the loan and make profit.
  6. Run your business, keep proper records, monitor sales and expenses to maximize profit and pay back the loan.
  7. VISIT HERE TO START APPLICATION

Kindly read our previous article for more information on how to access it HERE.

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