Zenith Bank highlights FG’s agri-business and small business loan scheme’s requirements


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AGSMEIS is a Federal Government Scheme that promotes agricultural businesses, micro, small, medium enterprises (MSMEs) thereby creating an avenue for improved employment generation and sustainable economic development.

This scheme has enabled Zenith Bank give businesses the opportunity to access low interest loans in form of Debt or Equity.

Which Business Is Eligible?

  • Agricultural sector.
  • Real sector including Manufacturing, mining and petrochemicals.
  • Service sector including Information and Communication (ICT) and the creative Industry.
  • Other businesses as determined by the Central Bank of Nigeria (CBN).

What Are the Loan Options?

  1. Debt Component – This makes up 50% of the funds which will be disbursed as loans to eligible businesses through Commercial Banks.
  • Loan Limit: ₦10 million (Maximum)
  • Interest Rate: 5% p.a
  • Tenor: Up to 7 years
  • Moratorium: Maximum of 18 months on Principal and 6 months on Interest
  1. Equity Component – This constitutes 45% of the funds which will be channelled through Fund Managers for equity investments in agri-businesses and SME’s.
  • Loan Limit: Not more than 40% of the investee company’s equity subject to a maximum of ₦2 Billion.
  • Tenor: Up to 10 years with an initial lock period of 3 years.

Which Documents Are Needed to Access the Loan?

  • Duly Completed Application Form
  • Bank Verification Number (BVN)
  • Certificate of Training from a recognized Entrepreneurship Development Institution (EDI) or evidence of membership of organized private sector association
  • Letter of Introduction from any of the following- Clergy, Village Head, District Head, Traditional Ruler, Senior Civil Servant etc (for Individuals and Micro Enterprises Only)
  • Evidence of Registration of Business Name or Certificate of Incorporation and filing of annual returns (where applicable)
  • Tax Identification Number (TIN) and current Tax Clearance Certificate (where applicable)

Where Can You Access Loan?


1 National Association of Small Scale Industries (NASSI)     Lagos
2 House of Tara     Lagos
3 Small and Medium Enterprises Development Agency of Nigeria (SMEDAN)     Lagos
4 Fate Foundation     Lagos
5 Lagos State Employment Trust Fund (LSETF)     Lagos
6 EDC – Lagos Business School     Lagos
7 African Leadership Forum (ALF) Executive Director 08023011543 Lagos
8 National Directorate of Employment (NDE) Mr Chidiebere 08037004984 Lagos

Source: Zenith Bank

Toyin Afilaka
Toyin Afilaka
Toyin Afilaka writes with simplicity and insight. He aims to enrich the Nigerian small business landscape. Through Hustle24 he connects entrepreneurs with information about new policies, enterprise solutions and opportunities that will aid their 'hustle'. He has written extensively for CobraReview, a product review portal, and served as a lead project manager for MarketingMix where he consulted as PR consultant for MTN Project Fame and Business Next Titan etc.


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