How To Complete Your AGSMEIS Loan Application If You’re Told To Contact EDI

Last Updated on February 11, 2021 by Ope Quadri

In the course of your application for the Agric-Business Small and Medium Enterprises Investment Scheme (AGSMEIS) loan, you may have come across this disturbing message that may hinder you from proceeding with your application:

“To proceed, please read below: It seems you have not been admitted (trained) by your Training Institution. Please contact your Training Institution (EDI) to admit you on the portal.”

If you’re one of those who got this message while trying to apply for AGSMEIS loan on Nirsal Microfinance bank portal, don’t fret, here is exactly what you should do right away.

Solution

After creating AGSMEIS account on NMFB portal, you can leave the rest for your Entrepreneurship Development Institution (EDI) to handle the rest.

If you don’t already have one, locate one of the EDIs in your geopolitical zones. They are certified by the Central Bank of Nigeria (CBN) to supervise and guide you for you to have a winning business plan and help you handle most of the submissions to the apex bank

Step 1: Look for any CBN certified EDI of your choice

Step 2: Fill out loan application form to register with them

Step 3: Get trained. The training is N10,0000. you will get a certificate of training

Step 4: Pay for a business plan (N5,000)

Your EDI will assist you to upload and submit the business plan to your AGSMEIS NIRSAL account.

Step 5: Wait for an invitation for an interview from NIRSAL.

Your EDI will groom you on some critical questions regarding the loan

That’s all!

AGSMEIS is a federal government intervention funding scheme through CBN which means with an Interest Rate of 5% per annum and seven years tenor.

Moratorium: Maximum of 18 months on Principal and 6 months on Interest

If you haven’t applied, you can check the eligibility and document requirements on one of our publications.

Still having problem? Talk to us.