How To Apply For SMEDAN Matching Fund 2022
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).
Application Deadline: December 25, 2022
For more details, visit SMEDAN website