Call for Applications: SMEDAN/Sterling Bank Matching Fund Programme for Micro and Small Enterprises (Get between N500k to N2.5M)

The Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) in partnership with Sterling Bank Plc announces the launch of the SMEDAN/STERLING Bank Matching Fund Program for Nano, Micro and Small Enterprises.

This intervention aims to provide credit to the sub-sector in six selected states as a promotional mechanism to increase corporate output, competitiveness and job creation. The disbursing entity under the scheme will be Sterling Bank Plc.

2. Programme Terms and Eligibility Criteria

i. Target Beneficiaries Definition: The target beneficiaries of this program will be Nano, Micro and Small Enterprises (NMSES) operating in the real sector of value added agricultural products.

ii. Financing available under the programme: Prospective beneficiaries may apply for financing within the range of N500,000 – N2.5 million.

iii. Conditions/Terms applicable:

A. The applicable interest rate for all financing under this program may not exceed an odd number per year

B. The financing period is for a period not exceeding 30 months, which is effective from the date of the first payment. This includes the moratorium (which can vary between 3-6 months, depending on the type of business).

iv. Applicable Security:

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

B. Applicant/company must have CAC registration or state-approved registration.

C. A chattel that must be registered with the National Collateral Registry (NCR).

3. How to Apply

1. Portal Opening: NMSES can apply by clicking here.

Or by visiting the SMEDAN website and clicking on the SMEDAN/Sterling Bank Matching Fund Programme icon. Once migrated to the smecredits portal, pre-qualification of applicants shall commence.

See also Recent Job Opening for Project Manager, CASADE at the Global Alliance for Improved Nutrition (GAIN)
ii. 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).

Eligible States

Based on the criteria above, all suitably qualified Nano, Micro and Small Enterprises (MSES) located in the following states can apply:

Anambra
Bayelsa
Delta
Ebonyi
Ekiti
Osun
Application Deadline

It should be clearly understood that the particulars set out in paragraphs 2-3 above, form the basis for considering the application of qualified NMSEs which shall be received till 25 December 2022

Click here to apply