SMEDAN, Sterling Bank Matching Fund Programme 2022/2023 – Apply

SMEDAN, Sterling Bank Matching Fund Programme 2022/2023 – Apply. Applications are now opened for the SMEDAN, Sterling Bank Matching Fund Program. Interested persons should kindly check the article below to see how to apply and the requirements.

SMEDAN, Sterling Bank Matching Fund Programme 2022/2023 – SMEDAN and Sterling Bank Plc hereby announce the commencement of the SMEDAN/Sterling Bank Matching Fund Programme 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 programme shall be Sterling Bank Pic.

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Call For Participation:

The joint programme partners, Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) and Sterling Bank Plc hereby invite applications from all suitably-qualified Nano, Micro and Small Enterprises (MSEs) located in the following state:

• Anambra,
• Bayelsa,
• Delta,
• Ebonyi
• Ekiti
• Osun.

Programme Terms and Conditions:

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

b. Financing available under the programme: Prospective beneficiaries may apply for financing within the range of N5OO Thousand to N2.5 million.

Conditions/Terms applicable:

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

b. 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:

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

b. The applicant/Enterprise must have CAC registration or State approved registration

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

How to apply

1. Portal Opening: NMSEs can apply by visiting (www.smedan.gov.ng), or click this link https://smecredits.com.ng/dist/index.php where Pre-qualification of applicants shall commence.

2. Business Plans Submission: Pre-qualified applicants shall be required to pay a processing fee of ten thousand (N10,000 00) Naira for the Business Plan template on the platform (Note: A separate training fee is not required).

Application Deadline

25th December 2022.

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