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

  •  Course
  •  25-Dec-2022
  •   Nigeria
  • $$  Varies

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.

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Eligibility Criteria

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).
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Offered Benefits

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

Application Process

Go to Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) on smecredits.com.ng to apply
Apply Here
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