How To Apply For SMEDAN Matching Fund 2022

Last Updated on November 28, 2022

SMEDAN Matching Fund

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.

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).

Click Here To Apply

Application Deadline: December 25, 2022

For more details, visit SMEDAN website

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