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

Published: 27 Nov 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.

SMEDAN/Sterling Bank Matching Fund Program

Application Deadline	December 25, 2022
Country to study	Nigeria
Type	Entrepreneurs
Sponsor	Small and Medium Enterprises Development Agency of Nigeria (SMEDAN)
State of Origin	Anambra, Bayelsa, Delta, Ebonyi, Ekiti, Osun
Gender	Men and Women

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

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

How to Apply

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