Apply Now for SMEDAN, Sterling Bank Matching Fund Programme 2022/2023

 This is to announce the launch of the SMEDAN/Sterling Bank Matching Fund Programme for Nano, Micro, and Small Enterprises, which will run from 2022-2023.

SMEDAN, Sterling Bank

As a promotional device to boost business production, competitiveness, and job creation, this intervention will provide loans to the sub-sector in six chosen States. Under the terms of the scheme, Sterling Bank Pic will act as the disbursing institution.

Agreement to Terms of the Programme:

  • Nano, Micro, and Small Enterprises (NMSEs) producing value-added agricultural products should be the intended recipients of this programme's benefits.
  • Funding under the scheme is offered to borrowers with annual incomes between N5OO Thousand and N2.5 million.

Terms and Conditions that apply:

  • All loans made available via this program will carry an interest rate that does not exceed the low double digits per annum.
  • From the time of the first instalment, the term of the financing cannot exceed 30 months. This includes a moratorium (which, depending on the nature of the business, might last anywhere from three to six months).

Allowed Security:

  • A part of the Agribusiness value chain is required for the applicant/business to be considered (Upstream, Midstream & Downstream)
  • Registration with the CAC or a state-approved registration system is required of the applicant/business.
  • A movable asset must be registered with the National Collateral Registry (NCR).

Methods of Application

The Portal Is Now Open: Micro, Small, and Medium-Sized Enterprises (NMSEs) Can Apply at ( or ( Locations where potential employees will first be screened.

Business plans must be submitted by pre-qualified candidates, who will be charged ten thousand (N10,000 00) naira to use the platform's Business Plan template (Note: A separate training fee is not required)

Advertisement for Volunteers:

All qualifying Nano, Micro, and Small Enterprises (MSEs) in the following state are encouraged to apply to the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) and Sterling Bank Plc's joint project. ((1) Anambra, (2) Bayelsa, (3) Delta, (4) Ebonyi, (5) Ekiti and (6) Osun)

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