There are several EDI training centres in Nigeria Where you can get good entrepreneurial skills and information on how to process CBN AGSMEIS loan.
The CBN plans to complement to its microfinance policy and also to ensure the sustained supply of skilled entrepreneurs in Nigeria led makes them support this centres.
The EDI centers are also mediums through which business owners can submit application for loans to CBN for their business purposes.
These Entrepreneurship Development Centre [EDC] are in each of the six geo-political zones in Nigeria.
Through the CBN, EDI in Nigeria provides physical structures, training materials, equipment, human resources and other facilities that would assure internationally competitive, effective and sustainable services capable of meeting the needs of MSMEs in the country.
What is EDI?
The CBN EDC (Entrepreneurial Development Centres) in Nigeria are built to provide, training materials, equipment, human resources and other facilities that would assure internationally competitive, effective and sustainable services capable of meeting the needs of MSMEs in the country
Objectives of CBN EDI training centres
- To develop entrepreneurship spirit amongst Nigerians and provide insight into the tools,
techniques and framework for managing all functional areas of business enterprise, including
production, marketing, personnel and finance.
- To develop skills for aspiring entrepreneurs to successfully start, expand, diversify and
manage business enterprises as well as link them with financial institutions for start up capital,
especially the microfinance banks.
- To generate employment opportunities for Nigerians in pursuance of the provisions of the
National Economic Empowerment and Development Strategy [NEEDS] and recently vision
- To raise a new class of entrepreneurs/owners, who can compete globally and succeed in
managing MSMEs and provide the bridge for future industrialization of the country.
The Importance of EDI Training
Applicants of CBN AGSMEIS LOAN scheme are expected to submit certificate of EDI training before they can access this loan.
These EDI centres in Nigeria also guides applicants in getting all necessary documents required to secure CBN AGSMEIS loan through.
What Are the Eligibility Criteria?
- All interested applicant must have been trained by an Entrepreneur Development Institute (EDI)
- All interested applicant will apply for loan via an EDI
- The applications will then be sent to CBN for processing
- All applicants will be called for an interview regarding his/her business.
- Applicants who’ve qualified will be contacted and given the loan.
- Fill clearly the new form with all the details required, sign and get them authenticated by EDC.
CBN EDIs Documentation Requirements for AGSMEIS Loan
For Micro, Small and Medium Enterprises operating in Nigeria:
- Your duly completed application form
- Bank Verification Number (BVN)
- Your certificate of Training from recognized Entrepreneurship Development Institution (EDI) or evidence of membership of organized private sector association. Such as, Lagos Business School, House of Tara, Fate Foundation, Thrive Agric, etc. to access the loan.
- A Letter of Introduction from any of the following: Clergy, Village Head, District Head, Traditional Ruler, senior civil servant, etc. (for individuals/micro enterprises only).
- An evidence of registration of business name or certificate of incorporation and filing of annual returns (where applicable) in compliance with the provisions of the Companies and Allied Matters Act (1990).
- Your tax Identification Number (TIN) and current Tax Clearance Certificate (TCC) Where applicable
What Is the Application Process
For Micro, Small and Medium Enterprises:
- Enrol with a CBN certified EDI for a one-week training
- Eligible applicants shall pick-up and submit a completed application form to the EDIs
- The EDI shall collate, appraise and submit applications to CBN.
- CBN shall consider the application and invite applicants for interviews
- Upon approval, CBN shall approve the loan and disburse to necessary vendors as applicable