The SMEDAN/STERLING Bank Matching Fund Program For Nano, Micro, and Small Enterprises has begun, according to the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), in collaboration with Sterling Bank Plc.
As a promotional tool to increase enterprise output, competitiveness, and job creation, this intervention will provide credit to the sub-sector in six chosen states. Sterling Bank Plc will be the program’s disbursing entity.
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.
- 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.)
- 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).
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.
How To Apply
Click here to apply, if you are interested