SMEDAN, Sterling Bank Matching Fund Programme 2022/2023 - Apply Now

SMEDAN, Sterling Bank Matching Fund Programme 2022/2023 - Apply Now

SMEDAN, Sterling Bank Matching Fund Programme 2022/2023 - SMEDAN and Sterling Bank Plc hereby announce the commencement of the SMEDAN/Sterling Bank Matching Fund Programme for Nano, Micro and small Enterprises.

This intervention is to deliver credit to the sub-sector in six selected States, as a promotional mechanism to enhance enterprise output, competitiveness and job creation. The disbursing entity, under the programme shall be Sterling Bank Pic.

Programme Terms and Conditions:

a. Target Beneficiaries Definition: Target beneficiaries for this Programme shall be Nano, Micro and Small Enterprises (NMSEs) operating in the real sector with value-added agricultural products.

b. Financing available under the programme: Prospective beneficiaries may apply for financing within the range of N5OO Thousand to N2.5 million.

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Conditions/Terms applicable:

a. The interest rate applicable on all financing under this programme shall not exceed single digit per annum.

b. The financing tenor is for a maximum period of 30 months, effective from the date of first disbursement. This is inclusive of moratorium (which may vary between 3 - 6 months, depending on the type of enterprise.

Applicable Security:

a. The applicant/Enterprise must be within the Agribusiness value chain (Upstream, Midstream & Downstream)

b. The applicant/Enterprise must have CAC registration or State approved registration

c. A moveabie asset to be registered under the National Collateral Registry (NCR).

Application Closing Date: 25th December 2022

How to apply

1. Portal Opening: NMSEs can apply by visiting (www.smedan.gov.ng), or click this link https://smecredits.com.ng/dist/index.php where pre-qualification of applicants shall commence.

2. Business Plans Submission: Pre-qualified applicants shall be required to pay a processing fee of ten thousand (N10,000 00) naira for the Business Plan template on the platform (Note: A separate training fee is not required)

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Call For Participation:

The joint programme partners, Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) and Sterling Bank Plc hereby invite applications from all suitably-qualified Nano, Micro and Small Enterprises (MSEs) located in the following state:

(1) Anambra, (2) Bayelsa, (3) Delta, (4) Ebonyi, (5) Ekiti and (6) Osun.