2022 SMEDAN/Sterling Bank 2022 Matching Fund Program for Micro and Small Enterprises | Get N500k to N2.5M

2022 SMEDAN/Sterling Bank 2022 Matching Fund Program for Micro and Small Enterprises | Get N500k to N2.5M

The Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) in partnership with Sterling Bank Plc announces the commencement of the SMEDAN/STERLING Bank Matching Fund Program 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 program shall be Sterling Bank Plc

About Small and Medium Enterprises Development Agency of Nigeria (SMEDAN)

The Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) was established by the SMEDAN Act of 2003 to promote the development of the MSME sector of the Nigeria Economy. The Agency positions itself as a One Stop Shop for MSME Development. Micro Enterprises are included in the clientele of the Agency since they form the bedrock for SME's  OUR VISION  To establish a structured and efficient micro, small and medium enterprises sector that will enhance sustainable economic development of Nigeria  OUR MISSION  To facilitate the access of micro... read more

Aim and Benefits of SMEDAN/Sterling Bank Matching Fund Program

Financing available under the program: Prospective beneficiaries may apply for financing within the range of N500,000 – N2.5 million.

Requirements for SMEDAN/Sterling Bank Matching Fund Program Qualification

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

Conditions/Terms applicable:

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

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:

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

The applicant/Enterprise must have CAC registration or State approved registration;

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

How to Apply

Interested and qualified? Go to Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) on smecredits.com.ng to apply

Apply here

All the best