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AGSMEIS Loan Business Plan: 8 Key Sections You Must Prioritize

Last updated on August 5th, 2023 at 09:35 pm


One of the biggest credit facilities supported by the Central Bank of Nigeria is Agric-Business Small and Medium Enterprises Investment Scheme (AGSMEIS). It isn’t just designed to make Nigeria self-sufficient in what we consume, but also to reduce the rate of unemployment across the country.

As an applicant, you must either have an existing agri-business or a new one with a clear direction.

That’s why we’re putting this guide together for you to know the important information you need to provide in your AGSMEIS loan Business Plan and if you’re among those whose applications were rejected the last time, we have a guide on what you need to do to get an approval, it’s available at:


This business plan template contains the questionnaire that will enable you to draft a winning plan that will enable you to get loan approval.

What makes AGSMEIS loan business plan different from others?

Using a generic plan will not help you win a credit facility because it may not appropriately fit into your own business goal.

Specifically, what makes this different from others is the fact that 75% of AGSMEIS loan must be set aside for Fixed Assets like machinery while the 25% must be used for working capital.

Below are the important sections of your business plan where sufficient information is needed:

  1. Personal Details
  2. Education Qualifications
  3. Corporate Information
  4. Business/Product Description
  5. Target Market
  6. Marketing & Sales
  7. Loan Information
  8. References Information

Personal Details

This section contains your details and must provide the following:

1) Your name: Make sure it corresponds with the name on your national identity card or any other mean of ID

2) Address: Don’t provide a conflicting address, your address must be verifiable to have the confidence of the loan-granting authority.

Imagine a situation whereby the address on your Business certificate is different from the one on your means of ID, and you’re providing another different from the previous ones?

3) Date of Birth: Small detail matters when applying for a loan, the importance of this is to be sure that you’re legally matured to manage finance and business.

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4) Telephone Number: Make sure that your phone number is linked to your National Identity Number (NIN)

5) Email: Most times, we advise loan applicants to use Gmail because of fast delivery mechanism.

6) Means of identity: This could be your voter’s card, International Passport, or Driver’s Licence

7) BVN: Your Bank Verification Number is one of the factors that will determine the success of your application. If your BVN can’t be verified by the Nigeria Inter-Bank Settlement System Plc (NIBSS), sorry, your application will be rejected, no one gives a loan to a ghost.

8) State of Origin

9) Marital Statu

10) Preferred NIRSAL MFB Branch For Interview

Education Qualifications

1) You must clearly state your highest qualification SSCE, NCE, OND, BSC

2) What year did you graduate from the institution?

3) What’s your area of discipline

4) Do you have a Certificate to prove the qualification?

Corporate Information

The third part of your AGSMEIS business plan must contain the information of your business

1) Name of Business/Company. Millions of naira have been set aside for each of the successful applicants, as such, your company must be legally registered with the Corporate Affairs Commission (CAC).

2) It is a business name or limited liability company? You must clearly state this information in your business plan.

3) When was your business registered?

4) When did you begin operation? If your company has been registered for more than two years, it is important to note evidence of paying your annual returns will play a very important role here.

5) RC or BN Number? While Registered Number (RC) is for limited liability by shareholders, Business Name (BN) is associated with a sole proprietorship business, a one-man business.

6) Your office Address: If your business or company is registered, you may want to use the same address.

7) Your office phone number and official e-mail address

8) Web Site: If your business has a corporate website or portal, state it in your business plan.

The last part in this section is the list of people are responsible for running the business. Clearly state their names and the key responsibilities of each of them

Also Read:  8 Components Of An Executive Summary (With A Sample)

Product Description

This part is sub-divided into three areas, first, you must mention the service you provide or the product you sell.

1) You must succinctly describe the service you render or the product you make.

2) What is the cost of your service or the product? Production cost

3) What is the sales price?

4) What is the monthly capacity of the product? You must describe all these when putting your agric loan business plan together.

5) What are the Strengths, Weaknesses, Opportunities, and Threats of your business? In business financing, it’s called SWOT analysis, which must include the following:

  • Your competitor’s name: There is nothing new you want to make that someone has not made, so who is your competitor?
  • What is your competitors’ product?
  • What is your competition’s price? How would yours be an advantage?
  • And also, it’s important to know and state your competitor’s location

Target Market

Of course, you can’t push out a product without having in mind which problem your product will solve and who the final consumer will be.

Doing your target market analysis, you should be able to show NIRSAL Microfinnace Bank (NMFB) if your product is for students, mothers, or only men.

Where are your customers located? Are you targeting the entire country (Nigeria)? Is it a regional product or geopolitical like South-East? Or a specific town like Ibadan and its environs?

Marketing Strategies

As we earlier pointed out this AGSMEIS Business Plan template is to ensure that your loan application is approved.

So you must do everything possible to convince and assure the lenders that there would be a value from the loan in the long run.

One of the key ways to do this is to spell out your marketing strategies. What medium do you plan to use to reach your target market?

If your target market is under 30, then Social media marketing should be one of the key marketing strategies on your list.

Loan Information

Credit facility for Agric-Business Small and Medium Enterprises Investment Scheme meant to take care of two critical parts of your business:

  1. 75% for Fixed Assets
  2. 25% for working capital
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For instance:

If you wish to take N3,000,000 loan, then here is how to allocate the proposed funds in your plan:

Fixed AssetsWorking Capital

In your plan, make sure you list out the machinery or equipment needed for the success of your business.

You may want to ask: What are Fixed Assets?

Also known as tangible assets, these are long-term assets you purchase or plan to buy that will be the backbone of your production. Examples include Plot of land and Generating set among others.

They are basically things you can see. It’s physical.

Working capital includes payment of salaries, money for advert and promotional services. Don’t forget to set aside a certain amount for exigencies (emergency spending).

As such, the items under this business plan template include Equipment Needed, the purpose of the equipment, the quantity, unit, and the cost (price).

And under the Working Capital, you need to break down the purpose e.g allocation for salaries, marketing promotion.

Note: You must have a budget for the salaries of your workers. How many of them will assist you to achieve your business goals and how much you plan to pay them.

References Information

AGSMEIS loan is a government credit facility, as such you are required to list at least two referees and their contact details in your business plan.

It is very important to reach out to the persons you want as your referees. They must be persons that know you and can vouch for you.

Special tip: Pick people who are kin about your progress.

Likely AGSMEIS loan Interview questions

From the above template, we came up with the following likely questions that officials of the NMFB may ask you before approving your loan application at:

They include:

  • How much loan do you require?
  • Can you briefly describe what you would use the loan for?
  • How do you plan to repay this loan?
  • What assets does your business have?
  • Do you think your product can compete with your competitors and do you plan to achieve this?
  • What debt does the business currently have?

You can use this template for your AGSMEIS loan Business Plan, upon completion, head back to your registration platform to upload.

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