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JDPC Onitsha as part of our entrepreneurial empowerment program assist qualified persons to access this loan,
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in association with Centre for Justice Human Rights & Development, a CBN certified Entrepreneur Development Institute (EDI).
AGRI - BUSINESS SMALL MEDIUM ENTERPRISES INVESTMENT SCHEME (AGSMEIS)
The Scheme is managed by NIRSAL Microfinance Bank, which is owned 50% by the Bankers Committee (All Banks in Nigeria), 40% by NIRSAL (Nigeria incentive-Based Risk Sharing System for Agricultural Lending), and 10% by NIPOST.
The objectives of the scheme
- To ensure that Small and Medium Enterprises (SMEs) have access to finance.
- To generate much needed employment opportunities in Nigeria.
- To boost the managerial capacity of Agri-Businesses /SMEs as pipelines of growing Enterprises that can become huge corporate organizations.
- To develop Agricultural value chain and ensure sustainable Agricultural practices.
THOSE WHO WANT TO START A BUSINESS OR ARE DOING BUSINESS IN THE BELOW AREAS ARE QUALIFIED TO APPLY FOR THE LOAN. THERE WILL BE THREE DAYS TRAINING AFTER REGISTRATION BY THE EDI.
CONDITIONS OF THE LOAN SCHEME
* Business Startups can access up to N3M maximum.
* Existing business can access up to N10 M maximum.
* Interest rate. 5%- 9% per annum.
* Moratorium (period you will stay before starting to pay back the Loan) for Agro business 6 months.
* Moratorium for other business 3 months.
* Loan repayment period- up to 7 years maximum.
* Loan is divided into 70% for equipment and 30% working capital.
* They pay directly to your equipment supplier and give you the working capital.
WHO CAN GET THIS LOAN?
* Creative & Art Industries
* Fashion, Beauty Apparel & Textile Arts & Entertainment
* Industrial and Manufacturing
* Agriculture & Communication Technology
* Telecommunication, Media & Publishing
* Hospitality
* Catering & Event Management
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